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Home > Teaching Business English > Business English Lessons, Advanced Level # 402
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In a limited liability partnership, several individuals or companies share the costs and profits of the business, but their responsibility is restricted to the sum of money they have invested and to any personal guarantees given.

Correct answer: (c) liability

Meaning of "liability"
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The QQQ, also called the 'Cubes', is an exchange-traded fund; it tracks the NASDAQ 100 index, containing the key stocks of the NASDAQ Composite Index quoted each night on the TV news.

Correct answer: (c) QQQ

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In a Subchapter S corporation, the net profit or loss is deemed distributed to its shareholders, who must include it in their individual tax returns irrespective of whether they actually receive the cash.

Correct answer: (c) Subchapter

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Actuals form a part of trading in the market: such a commodity is traded for either cash or some other commodity, and this transaction includes an exchange between two or more parties as well as delivery of the goods transacted.

Correct answer: (a) Actuals

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The firm thinks that the end of the recession is too distant to warrant buying cyclical stocks, so it is buying the secular stocks that are attempting to reduce expenses and manage their way toward recovery.

Correct answer: (b) secular

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A balanced budget is reached when the government can equate revenues with expenditure over the business cycle; this makes allowance for a deficit during periods of low economic activity, which must nevertheless be matched by a surplus during periods of high activity.

Correct answer: (a) A balanced

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Under the FRB's Regulation T, a restricted account is not permitted to initiate a debit balance for any reason; buy orders are only accepted if cleared funds are in the account, and this condition holds until 90 days from the date of the transaction.

Correct answer: (d) restricted

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The committee scrutinizes the state's capital budget, which allocates money for construction and repair of public structures and other long-term investments like land acquisition and transfer, and also includes funds given or loaned to local governments and non-profit organizations.

Correct answer: (a) capital

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The U.S. Department of Labor statistics that will be published tomorrow by The Springfield Gazette present the civilian unemployment rate as the best measure of the national labor market rather than the overall rate, whose base includes US-based military personnel.

Correct answer: (a) civilian

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The European Leasing Barometer measures the expectations of leasing professionals in the next six months in consideration of the state of the general economy, the leasing sector and their own businesses, and as such functions as a good confidence indicator.

Correct answer: (a) confidence

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
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