TOEIC Vocabulary · Finance & Accounting · Set 5 · 12 words
The numbers vocabulary every reading passage needs.
Budgets, profits, and the finance vocabulary that TOEIC readings pull from reports and memos.
Finance and accounting vocabulary appears throughout TOEIC reading passages about company reports, budgets, and investments. Learn the meaning, see it in a sentence, then test yourself.
The words
budget noun
A plan for how money will be spent.The department stayed within its budget this year.
expense noun
Money spent on something.Every travel expense must be submitted with a receipt.
profit noun
Money made after costs are paid.The company reported a strong profit this quarter.
deficit noun
When spending is more than the money coming in.The city is facing a budget deficit.
audit noun / verb
An official check of money records.The annual audit begins next month.
asset noun
Something valuable owned by a person or company.Real estate is considered a valuable asset for the firm.
liability noun
Money that is owed.Unpaid loans are listed as liabilities.
invest verb
To put money into something, hoping to earn more.They plan to invest in new equipment.
allocate verb
To set money aside for a specific purpose.The board decided to allocate more funds to research.
fiscal adjective
About money.The fiscal year ends in March.
transaction noun
An act of buying or selling.Each transaction is recorded automatically.
depreciate verb
To decrease in value over time.Cars tend to depreciate quickly in the first year.
Flip to review
Tap a card to see how it's used.
budget
nountap to flip
A plan for how money will be spentThe department stayed within its budget this year.
expense
nountap to flip
Money spent on somethingEvery travel expense must be submitted with a receipt.
profit
nountap to flip
Money made after costs are paidThe company reported a strong profit this quarter.
deficit
nountap to flip
When spending is more than the money coming inThe city is facing a budget deficit.
audit
noun / verbtap to flip
An official check of money recordsThe annual audit begins next month.
asset
nountap to flip
Something valuable owned by a person or companyReal estate is considered a valuable asset for the firm.
liability
nountap to flip
Money that is owedUnpaid loans are listed as liabilities.
invest
verbtap to flip
To put money into something, hoping to earn moreThey plan to invest in new equipment.
allocate
verbtap to flip
To set money aside for a specific purposeThe board decided to allocate more funds to research.
fiscal
adjectivetap to flip
About moneyThe fiscal year ends in March.
transaction
nountap to flip
An act of buying or sellingEach transaction is recorded automatically.
depreciate
verbtap to flip
To decrease in value over timeCars tend to depreciate quickly in the first year.