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 allocate means to distribute or assign available resources such as budget, time, or personnel to specific tasks or departments.

Question 2

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

Accepted Answer

Every three months

Answer

Quarterly means four times a year, with each quarter covering approximately a three-month period.

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 reimburse means to repay someone for money they have already spent on behalf of the company.

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

Outsourcing means contracting work or services to an outside company or freelancer rather than performing them internally.

Question 5

What is a company's 'fiscal year'?

Accepted Answer

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

Answer

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.

Test of English for International Communication (TOEIC) Practice Test

Test of English for International Communication (TOEIC) Practice Test

TOEIC Business Vocabulary 2