Lesson Balance sheet

Synonyms
Antonyms
1. income		a. possessions	6. balance		f. to pay
2. statement		b. presentation	7. net		g. dated
3. assets		c. report	8. to owe		h. instability
4. performance		d. to assess	9. debt		i. gross
5. to evaluate		e. revenue	10. current		j. credit

ANSWERS
1.e 2.c 3.a 6.h 7.i 8.f
4.b 5.d 9.j 10.g
Task 5. Match the word with the correct definitions.

1. assets		a. to need to pay or give something to someone because they have lent money to you
2. liability		b. a financial statement that shows a company's assets and debts at a particular time
3. equity		c. the amount of money that is owed by a person, company, country, etc. and that they usually have to pay interest on
4. balance sheet		d. the amount of goods and materials owned by a company at a particular time, including parts, products being made, and finished products
5. loan		e. something that is owned by a person, company, or organization, such as money, property, or land
6. debt		f. used to describe an amount of money that is left after tax and other costs have been paid
7. inventory		g. a document that shows a company's profit or loss in a particular period of time
8. income statement		h. money that someone borrows from a bank or other financial organization for a period of time during which they pay interest
9. net		i. the amount of money that a person or organization owes
10. to owe		j. the value of a company, divided into many equal parts owned by the shareholders, or one of the equal parts into which the value of a company is divided

ANSWERS_1.j_2.c_3.e_4.b_5.h_6.i_7.d_8.a_9.f_10.g__LISTENING'>ANSWERS
1.j 2.c 3.e 4.b 5.h 6.i 7.d 8.a 9.f 10.g

LISTENING





Receivable, cash, business, net, performance, financial, property, equity, payable, current
Task 6. Listen to the audio and fill in the gaps with suitable words from the box.

1. An Income Statement shows a company’s _______ over a period of time. 2. The Balance Sheet show a company’s _______ worth at a particular point in time. 3. Both are important when evaluating the company’s _______ position. 4. The balance sheet lists what the _______ owns (assets) and what it owes (liabilities). 5. Assets are anything the business owns, including cash, accounts________, inventory, machinery, and property. 6. There are two types of assets: ________ and long term. 7. Current assets can be quickly converted into _______, like inventory. 8. Long-term assets are items that will be kept for many years, such as _________. 9. Liabilities are business debts, including loans, accounts _________ , taxes and wages. 10. _______ is the amount of money that owners and investors have put into the business.

ANSWERS
1. performance 2. net 3. financial 4. Business 5. receivable
6. current 7. cash 8. property 9. payable 10. Equity


TEST


Task 7. Select and tick the correct answer.