Lesson Balance sheet

1. What is an Income Statement? a. A pay slip b. The company’s value c. A list of Assets d. The company’s performance over a given period of time
5. Which of these is NOT an example of a Liability? a. Bank loan b. Accounts Payable c. Accounts Receivable d. Tax bills
2. What is a Balance Sheet? a. Assets and Equity b. The net worth of a company at a specific time c. Business debts d. The company’s performance over a given period of time	6. What defines a current Asset? a. An asset that can be quickly sold b. An asset that will be kept a long time c. Property and Machinery d. An asset that has been recently maintained
3. Which of these is NOT included on the Balance Sheet? a. Liabilities b. Assets c. Total sales d. Equity	7. Which answer does NOT mean to own? a. To have b. To be interesting c. To keep d. To possess
4. Which of these is NOT an example of an Asset? a. Accounts Payable b. Accounts Receivable c. Inventory d. Property	8. Which answer also means to owe? a. To be in debt b. To admire c. To play d. The law

ANSWERS
1.d 5.c
2.b 6.a
3.c 7.b
4.a 8.a


Task 8. Read this extract from a podcast about working more effectively and underline the correct words in italics. Sometimes both answers are possible.
Improving productivity is a constant battle in business. Working longer hours is a depressing option, 1 though / despite many of us choose it. How can we get the same results quicker: how can we work smarter? My advice may not be very original, 2 but / even though it could be useful for business people who have no time to think about their lives and working styles. First, multi-tasking. 3 Although / But many people say they are good at multi-tasking, trying to do lots of things at once is distracting. Try closing your office door, diverting calls to voice mail and doing some real work. 4 Despite / However, making you feel busy, multi-tasking often means switching from task to task rather than making real progress. Email is a great invention. 5 In spite of / However, it is also a great distraction. 6 Even though / Although it may only take up an hour or two a day, it's a significant proportion of your working time. If you double the time you spend on activities which produce real results and stop doing the others, you will double your output, 7 despite / but only working for the same length of time. Concentrate your time on the customers who really matter. You might think you are treating some of your customers badly, 8 but / however, don't forget that 80% of your profits come from 20% of your customers. Delegation also improves results. When delegating a task, 9 however, / although it doesn't mean you can sit back and relax; get on with another task. Working faster, identifying 80/20 tasks and delegating will all improve your efficiency. They all benefit from careful planning, 10 although / though. That's my final tip.
ANSWERS
1.despite 2.but 3.although 4.however 5. however
6.even though/although 7. despite 8. but/however
9.however 10.though