TOEIC Business Vocabulary 2

Question 1

What does it mean to 'allocate' resources in a business project?

Accepted Answer

To assign or distribute resources for specific purposes

Answer

To spend all available funds immediately

Answer

To request additional funding from investors

Answer

To reduce the number of employees on a project

Question 2

If a company reports results 'quarterly,' how often does it report?

Accepted Answer

Every three months

Answer

Once a year

Answer

Every month

Answer

Every six months

Question 3

When a company agrees to 'reimburse' an employee, what does it mean?

Accepted Answer

To pay back the employee for expenses they already spent

Answer

To promote the employee to a higher position

Answer

To assign additional duties to the employee

Answer

To provide advance payment before work begins

Question 4

What does the term 'outsource' mean in a corporate context?

Accepted Answer

To hire an external company or individual to handle certain tasks

Answer

To hire more full-time employees for a department

Answer

To bring all business functions in-house

Answer

To open a new branch office overseas

Question 5

What is a company's 'fiscal year'?

Accepted Answer

A 12-month period used for financial accounting and tax purposes

Answer

The calendar year from January to December

Answer

The month in which a company was founded

Answer

The annual period for employee performance reviews

Question 6

If a business partner sends a 'proposal,' what have they sent?

Accepted Answer

A plan or suggestion outlining a potential project or deal

Answer

A final signed contract

Answer

A complaint about service received

Answer

An official invoice for payment

Question 7

What does 'overhead' refer to in business finances?

Accepted Answer

Ongoing operating expenses not linked to specific products or services

Answer

Income earned from premium clients

Answer

Costs directly tied to producing a specific product

Answer

Revenue generated above the expected target