Business Vocabulary Flashcards
7 cards from real TOEIC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Business Vocabulary flashcards as text
What does it mean to 'allocate' resources in a business project?
Answer: To assign or distribute resources for specific purposes
To allocate means to distribute or assign available resources such as budget, time, or personnel to specific tasks or departments.
If a company reports results 'quarterly,' how often does it report?
Answer: Every three months
Quarterly means four times a year, with each quarter covering approximately a three-month period.
When a company agrees to 'reimburse' an employee, what does it mean?
Answer: To pay back the employee for expenses they already spent
To reimburse means to repay someone for money they have already spent on behalf of the company.
What does the term 'outsource' mean in a corporate context?
Answer: To hire an external company or individual to handle certain tasks
Outsourcing means contracting work or services to an outside company or freelancer rather than performing them internally.
What is a company's 'fiscal year'?
Answer: A 12-month period used for financial accounting and tax purposes
A fiscal year is a 12-month accounting period used by a company for budgeting, financial reporting, and taxation, which may or may not align with the calendar year.
If a business partner sends a 'proposal,' what have they sent?
Answer: A plan or suggestion outlining a potential project or deal
A proposal is a document that presents a plan, idea, or offer for consideration, typically before a final agreement is made.
What does 'overhead' refer to in business finances?
Answer: Ongoing operating expenses not linked to specific products or services
Overhead refers to indirect business costs such as rent, utilities, and administrative salaries that are necessary to run the business but not directly tied to production.