Choose the correct answer.

1. Every Friday Fred ....... money out of the bank.( cashed / drew / robbed / stole)

2. The ....... of the pound has fallen recently. (expense / price / value / worth)

3. In order to buy his house Mr Not-Too-Rich had to obtain a large ....... from his bank. (capital / debt / finance / loan)

4. The accounts show a ....... of $ 500 this month. (decrease / deficit / deterioration / devaluation)

5. Violetta drew ....... all her savings from the bank to pay for her trip to Thailand.( along/ in / out / up)

6. The bank will require three ....... signatures when you open an account.( natural / sample / specimen / trial)

7. Miss Thrifty phoned the bank to ....... how much money there was in her account. (check / control / inspect / test )

8. Corruption in the running of the town's largest bank has recently been ....... in the local newspaper.( commented / discovered / exposed / found)

9. Many people save money to ....... for their old age.( cater / equip/ provide / supply)

10. Mr Royce had to ....... all his savings from the bank to pay for a new car.( exchange / retire/

subtract / withdraw)

11. The bank is offering a ....... to anyone who can give information about the robbery. (compensation / prize / premium / reward)

12. The ....... - of the bank where I work is in the suburbs. (branch / house/ quarter / seat)

13. I didn't write it. That's not my ....... on the cheque.( firm / letter / mark / signature)

14. I'm afraid that the bank will refuse my application for an extended ....... .

(balance / compensation / estimate / overdraft)

15. At this bank you can get 14% ....... on your savings.( interest / rate / rent / salary)

16. I want S 500-worth of French francs. What is the ....... rate, please? (currency / exchange / market / money)

17. Miss Positive ....... the bank manager that she would be able to repay the loan. (assured / ensured / certified / insured)

money coming in to pay for all the overheads - that there's sufficient to cover your fixed costs and your variable costs. Above all, this will hopefully stop you from going bankrupt because of cash-flow problems.

Now you've got your finances under control, you can reinvest some of your profits in the business. The best thing would be to buy the business premses. This will add to your assets and put your business on a sounder footing. It can also be used as collateral if you ever need to take out another loan. And you'll be able to amortise the payments on the spread sheet.

As things start going well, you start recruiting and hiring more employees. Now your turnover is really picking up and you've got your cash-flow nicely under control. You’ve established clear systems and processes for doing things and everything is working smoothly. You've even got enough to pay yourself a very nice salary!

In fact, things are going so well that you feel it's time to expand. So, you open another Snips hair salon in a different part of town. And that goes well too. So, you open another one and another. After a few years, you realise that your business model could work in the rest of the country. But you're going to need some more money. What I can you do? Simple! Sell some of your shares.

Luckily, there are some investors who are potentially interested. But it isn’t going to be easy. They want to see what assets and liabilities the company has. They'll also need to know how much profit you're making and whether you're a high- or low-risk investment. They'll look at how highly leveraged you are, and they'll want to evaluate your intangible assets: your trademarks, copyrights and patents.

Congratulations! In return for 20% of the shares in your company, you get enough money to open up hair salons all over the country. Things just keep getting better and better. But it isn’t going to be easy. The investors are going to want to see an annual report, and you are going to have to provide them with a balance sheet. Plus, they’ll want to receive dividends, but that’s no problem, because you are really making a very nice profit now.

But why should you stop here? Why not make your business global? Yes, good idea. But how? Once again, simple! Talk to some venture capitalists. So, after another round of meetings, you sell a further 29% of your equity in return for enough money to start operations in sixteen other countries! Well done!

But it doesn't stop there. After a few more years of phenomenal success you decide it’s time to float your business on the stock market - it's time to go public! Your company is listed and you shares are traded on the international markets. When it's a bear market, they're falling, but when it’s a bull market, your shares are shooting up! Life's sweet!

3. His bank manager decided to give him financial ....... for the new shop. (backing / footing / lifting / standing)

4. Many people who go to see their bank manager have a ....... problem.( cash-book / cashing up / cash flow / petty cash)

5. Reminders must be sent out to all customers whose accounts are more than a month ....... . (indebted / overdue / unbalanced / unpaid)

6. The notes in the wallet were all ....... American dollars. (counterfeit / false / mimic / mock)

Date: 2015-12-24; view: 1336