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Business English Exercises
 

Business buzzwords: Auditor's doubt

Answers to test questions and links to explanations

Home > Teaching Business English > Business English Lessons, Advanced Level # 180
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 All tests  Quiz  FAQ  ESL Forum  Dictionaries What does "Blackberry Pie" mean?
auditors doubt answer 1
The auditor will normally reach substantial doubt that an entity can continue as a going concern if the entity is unable to meet its obligations as they become due without (1) substantial disposition of assets outside the ordinary course of business, (2) restructuring of debt, or (3) externally forced revisions of its operations or similar actions.

Correct answer: (b) going

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auditors doubt answer 2
Bankers in emerging markets often view treasury activities common in the developed world as casino finance, so they have lagged behind developed-market competitors in managing risk and creating profitable treasury units; but high-performing treasuries seek out and profit from market risk, and emerging-market banks must commit themselves to a more aggressive posture.

Correct answer: (a) casino

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auditors doubt answer 3
Each country established working groups to plan migration at national level, under the aegis of the banking and/or payment associations, to ensure that a critical mass of national credit transfers and card payments migrate to SEPA payment instruments by the end of 2010, as demanded by the regulators and committed to by the European Payments Council.

Correct answer: (a) critical

Meaning of business term critical
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auditors doubt answer 4
After the first day Google's stock was publicly traded on the NASDAQ, approximately 1,000 (or almost 50 percent) of its employees were estimated to be paper millionaires.

Correct answer: (c) paper

Meaning of business term paper
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auditors doubt answer 5
On Black Tuesday, Reuben Thorson, 77, retired senior partner of Paine Webber, recalls, "The volume was so heavy that the tape was late by hours; we had no idea what the prices were."

Correct answer: (d) tape

Meaning of business term tape
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auditors doubt answer 6
The Nikko Cordial Corporation announced a stock consolidation to its common shareholders in Japan at the rate of one (1) new share to be issued for every two (2) existing ordinary shares held; the assimilation of the ordinary shares in the local market will be effective September 1, 2005.

Correct answer: (d) assimilation

Meaning of business term assimilation
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auditors doubt answer 7
Bill Nguyen is the subject of a story in The WSJ about how entrepreneurs are cautiously spending venture capital, especially compared to the last crop of Internet entrepreneurs in the 90s; the story includes some of the monthly burn rates at Silicon Valley companies — about $160,000 a month at Meebo, $200,000 at LaLa and $500,000 at Sharpcast.

Correct answer: (b) burn

Meaning of business term burn
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auditors doubt answer 8
Last week, the County announced that they no longer needed to consider Mandatory Time Off as a budget balancing device; some of the 'found money' was a reallocation of about $35k previously earmarked for the expensive (and unnecessary) study of raising Coyote Dam.

Correct answer: (a) found money

Meaning of business term found money
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auditors doubt answer 9
When a law firm that handled tons of sensitive legal matters for Valley startups and VC firms then goes belly up, what happens to all that information? — currently defunct Brobeck, Phleger & Harrison LLP notified clients that their digital files would be placed in a 'closed archive' managed by the Library of Congress.

Correct answer: (c) defunct

Meaning of business term defunct
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auditors doubt answer 10
Filtronic, the telecoms equipment manufacturer, has got its house in order and is looking forward to the future with confidence: the banks have agreed new five-year facilities and the company's problem child, a mobile phone antennae business, is to be sold off.

Correct answer: (a) child

Meaning of business term child
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