LET’S SPEAK 05: ACCOUNTING TERMS

a. Correct the mistakes in the spelling

1. buget___budget____2. accunts___accounts____3.statment___statement__4.general
legger______general ledger__5.petcash book____petty cash____6.fix assets_fixed assets___
7.autorithy___authority______8.paysroll____payroll_______9.paiable____payable_______10.receivables
___receivable_______
b. Mark the accent
example: standing = stan ding
1. payroll 2. statement 3. assets 4. payable 5. petty cash 5. authority 6. record
7.receivable 8. fixed 9. current
c. Fill in the gaps with the words given

accounts payable, accounts receivable, fixed, current, petty cash, ledger, register of
income and expenses, standing order request, statement, liabilities.
1. I’m sorry, the bank online program has a bug and our__ standing order request ___hasn’t
been processed, that’s why you haven’t received the payment.

2. Our Board of Directors is meeting to discuss the General__ ledger__.

3. I’m always nervous when it comes to print the___ register of income and expenses __. I
often call our consultant so she can check that everything’s fine before sending it to the Income
Revenue Authority.

4. I don’t like debt collecting but it’s part of my job. I have to make sure our accounts__
receivable _are under control and customers pay .
5. The company went bankrupt due to too many__ liabilities __.

6. _ Fixed _and _ current _ assets are recorded on a balance sheet which is a statement showing
the worth of a company at a certain point in time. 

7. Can you check the last bank __ statement __? Has Mr Jones’ payment come in?

8. We ought to cut our expenses. Mark said that our accounts__ payable __are too much a heavy
part on the budget.
9. If you need any cash, please ask Julia of the Accounts. Dept., as any cash must be recorded on
the__ petty cash _book.