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Practice Banking Terms in English

Practica inglés de negocios | Banca

Practice Banking Terms in English

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Knowing banking terms is a necessity. Some of us use it more frequently than others, but for the most part, we all have to use it at least once a month.

Here are the practice questions and answers from our Facebook post for September 10th, 2015.

International Business Academy Guatemala | Business English Practice Things of value owned by a business are known as _____________. assets assertions assessment


noun. property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies.


noun. a confident and forceful statement of fact or belief.


noun. the evaluation or estimation of the nature, quality, or ability of someone or something.

Answer: A. Assets

International Business Academy Guatemala | Business English Practice What's the opposite of an asset? Possess liability liaison


verb. have as belonging to one; own.


noun. a thing for which someone is responsible, especially a debt or financial obligation.


noun. a person who acts as a link to assist communication or cooperation between groups of people.

Answer: B. Liability

International Business Academy Guatemala | Business English Practice If your check "__________", you probably didn’t have enough in the account to cover it. Burns bounces binds


noun. an injury caused by exposure to heat or flame.


verb (3rd present person). informal (of a check) be returned by a bank when there are insufficient funds to meet it.


noun. a problematical situation.

Answer: B. Bounces

International Business Academy Guatemala | Business English Practice A person's credit _________ is a formal evaluation of their loan-repayment history or potential. level rate rating


noun. a position on a real or imaginary scale of amount, quantity, extent, or quality.


noun. a measure, quantity, or frequency, typically one measured against some other quantity or measure.


noun. a classification or ranking of someone or something based on a comparative assessment of their quality, standard, or performance.

Answer: C. Rating

International Business Academy Guatemala | Business English Practice If your bank account goes into "overdraft", it means that_________. you owe the bank money your balance is 0 the bank owes you money


noun: overdraft;  plural noun: overdrafts

A deficit in a bank account caused by drawing more money than the account holds.

Answer: A. you owe the bank money

International Business Academy Guatemala | Business English Practice A good business plan defines your business and __________ your goals. indents idealizes identifies


verb. 1. start (a line of text) or position (a block of text, table, etc.) further from the margin than the main part of the text. 2. form deep recesses or notches in (a line or surface). noun. a space left by indenting a line or block of text.


verb (3rd person present). regard or represent as perfect or better than in reality.


verb (3rd person present). establish or indicate who or what (someone or something) is.

Answer: C. Identifies

International Business Academy Guatemala | Business English Practice A lot ____________ on how comprehensive your business plan is. haggles hinges hassles


verb (3rd person present). dispute or bargain persistently, especially over the cost of something. noun. a period of persistent bargaining.


verb (3rd person present). 1. attach or join with or as if with a hinge. 2. depend entirely on.


verb (3rd person present). harass; pester.

Answer: C. Identifies

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