audit
[noun]
a formal inspection of a business's financial records to see if they are correct and accurate or not
Ex:
Essential Vocabulary for the GRE - Money Doesn't Grow on Trees!
Here you will learn some English words about finance, such as "audit", "undercut", "subsidy", etc. that are needed for the GRE exam.
review
flashcard
spelling
quiz
bankroll
[noun]
the total amount of money a person or business has for spending or investing
Ex:
The
investor
used
his
bankroll
to
buy
shares
in
several
startups
.
bankruptcy
[noun]
a situation in which a person or business is unable to pay due debts
Ex:
Bankruptcy
can
provide
a
fresh start
for
individuals
in
severe
debt
.
voucher
[noun]
a digital code or a printed piece of paper that can be used instead of money when making a purchase or used to receive a discount
Ex:
He
redeemed
his
voucher
for
a
free
movie
ticket
at
the
theater
box office
.
to undercut
[verb]
to demand a lower price than one's rivals
Ex:
The
company
is
currently
undercutting
prices
to
increase
sales
in
a
tough
market
.
treasury
[noun]
the funds and resources that a country or organization controls
Ex:
The
nation
's
treasury
was
boosted
by
an
increase
in
tax revenue
.
tax evasion
[noun]
the illegal acts done to pay less tax than what is owed or to avoid paying taxes altogether
Ex:
The
government
implemented
stricter
penalties
for
tax evasion
in
an
effort
to
deter
individuals
and
corporations
from
engaging in
fraudulent
tax
practices
.
taxation
[noun]
the system by which a government collects money from citizens and businesses to fund public services
Ex:
High
taxation
rates
can
discourage
investment
in
businesses
.
tariff
[noun]
a tax paid on goods imported or exported
Ex:
Negotiations
between
countries
often
focus
on
reducing
tariffs
to
promote
free trade
.
subsidy
[noun]
an amount of money that a government or organization pays to lower the costs of producing goods or providing services so that prices do not increase
Ex:
The
local
council
offers
subsidies
to
businesses
that
implement
environmentally friendly
practices
.
stagflation
[noun]
an economic situation with persistent high inflation and a high unemployment rate
Ex:
The
government
tried
various
strategies
to
combat
stagflation
with
limited
success
.
collateral
[noun]
a loan guarantee that may be taken away if the loan is not repaid
Ex:
In the event of
default
,
the
lender
has
the
right
to
seize
and
sell
the
collateral
to
recover
the
outstanding
debt
.
contingency
[noun]
the funds that are set aside for unforeseen expenses that may arise in the future
Ex:
Non-profit
organizations
often
establish
contingency
funds
to
prepare
for
unexpected
drops
in
donations
or
to
address
urgent
community
needs
.
cryptocurrency
[noun]
a digital or virtual form of currency secured by cryptography
Ex:
She
uses
cryptocurrency
to
make
international
payments
quickly
.
depression
[noun]
a time of little economic activity and high unemployment, which lasts for a long time
Ex:
equity
[noun]
the value of an asset after deducting all claims, debts, or liens against it
Ex:
Homeowners
often
borrow
against
the
equity
of
their
houses
.
fluctuation
[noun]
the irregular or unpredictable variation in something over time, characterized by alternating changes
Ex:
Energy
prices
are
subject
to
frequent
fluctuations
.
incentive
[noun]
a payment or concession to encourage someone to do something specific
Ex:
The
loyalty
program
offered
discounts
and
rewards
as
incentives
for
frequent
customers
.
liquidity
[noun]
financial assets in the form of money or able to be easily converted into money
Ex:
During
a
crisis
,
liquidity
can
be
a
lifeline
for
businesses
.
monetarism
[noun]
the theory or policy of controlling the amount of money in circulation as the preferred method of stabilizing the economy
Ex:
Monetarism
suggests
that
inflation
can
be
controlled
by
regulating
the
money supply
.
overdraft
[noun]
a deficit in a bank account caused by withdrawing more money than is available
Ex:
He
incurred
an
overdraft
after
spending
more than
his
account
balance
.
to quote
[verb]
to estimate how much money something will cost
Ex:
The
insurance company
quoted
a
monthly
premium
of
$
150
for
the
coverage
.
commodity
[noun]
(economics) an unprocessed material that can be traded in different exchanges or marketplaces
Ex:
Agricultural
commodities
such as
wheat
,
corn
,
and
soybeans
are
subject
to
fluctuations
in
price
based on
factors
like
weather conditions
and
supply
and
demand
.
conglomerate
[noun]
a corporation formed by merging different firms or businesses
Ex:
The
conglomerate
's
stock
price
soared
after
announcing
plans
to
divest
non-core
businesses
and
focus on
its
core
strengths
.
dividend
[noun]
an amount of money paid regularly to the shareholders of a company
Ex:
She
reinvested
her
dividends
to
buy
more
shares
.
proprietor
[noun]
the owner of a property or business
Ex:
He
became
the
sole
proprietor
of
the
family business
.
subsidiary
[noun]
a business company controlled or owned by a holding or parent company
Ex:
The
subsidiary
operates
independently
but
reports
to
the
parent
company
.
artisan
[noun]
a skilled craftsperson who creates objects partly or entirely by hand
Ex:
The
artisan
's
jewelry
designs
are
unique
and
intricate
.
labor-intensive
[adjective]
related to a line of work that requires large groups of workers to be able to function
Ex:
Mining
is
a
labor-intensive
job
,
needing
a
large
workforce
.
menial
[adjective]
(of work) not requiring special skills, often considered unimportant and poorly paid
Ex:
Many
people
avoid
menial
jobs
,
but
they
are
crucial
to
the
economy
.
painstaking
[adjective]
requiring a lot of effort and time
Ex:
The
restoration
of
the
historic
building
required
painstaking
effort
to
preserve
its
original
features
.
sabbatical
[noun]
a paid leave from work, often taken every seven years, for study or personal growth
Ex:
taxing
[adjective]
demanding or requiring a considerable amount of effort and energy to deal with
Ex:
tedious
[adjective]
boring and repetitive, often causing frustration or weariness due to a lack of variety or interest
Ex:
The
tedious
commute
to
work
in
heavy
traffic
was
a
daily
ordeal
for
many
city
dwellers
.
minute
[noun]
a written record summarizing the proceedings and decisions made
Ex:
He
reviewed
the
minute
to
prepare
for
the
next
discussion
.
hectic
[adjective]
extremely busy and chaotic
Ex:
The
holiday season
was
particularly
hectic
for
retail
employees
.