TOEIC Business Vocabulary 1

Question 1

In a TOEIC context, what does the word 'agenda' most commonly refer to?

Accepted Answer

A list of items to be discussed at a meeting

Answer

An 'agenda' is a list of topics or items scheduled to be discussed or addressed during a meeting.

Question 2

What is an 'invoice' in a business setting?

Accepted Answer

A document requesting payment for goods or services provided

Answer

An invoice is a formal document issued by a seller to a buyer listing the goods or services provided and the amount owed.

Question 3

If a manager says the project has a tight 'deadline,' what does that mean?

Accepted Answer

There is a strict date by which work must be completed

Answer

A 'deadline' is a fixed point in time by which a task or project must be finished.

Question 4

What does 'revenue' refer to in a business financial context?

Accepted Answer

The total income generated from sales or services

Answer

Revenue is the total income a company earns from its business activities, especially from sales of products and services.

Question 5

When two parties 'negotiate' in a business deal, what are they doing?

Accepted Answer

Discussing terms to reach a mutually acceptable agreement

Answer

To negotiate means to discuss and bargain over terms and conditions in order to reach an agreement that works for all parties.

Test of English for International Communication (TOEIC) Practice Test