Money matters 1B – Correction

1. If you Bounce a Check you have written a check that cannot be processed because the you have
insufficient funds. Banks return, or bounce, these checks, rather than honoring them. If someone
or something Bounces Back after a bad period, they or it return very quickly to a previous level
of success, enthusiasm, or activity.
2. A Pension is the money that someone continues to receive after they have retired from a
job. Redundancy pay is the money that is given to someone to compensate then for
losing their job when a company makes them redundant (= no longer needed). (Note that
if you lose your job and cannot find another one, you can receive welfare (= money from
the government)).
3. A Dividend is part of a company's profits shared out among shareholders. A Royalty is
money paid to the author of a book, an actor, a rock star, etc., as a percentage of sales (it
is usually plural: Royalties are paid twice each year).
4. Tax is money taken by the government from incomes, sales, etc., to pay for government
services. Duty is a special tax that has to be paid for bringing goods into a country (it is
often called import duty).
5. If you Deposit money in an account, you put money into the account. If you Withdraw
money, you take it out of your account.
6. A Bill is a written statement of money that you owe for goods or services. It is also the word
used for a piece of paper money in the US (= ‘banknote’ in the UK). A Check is a bill that is
given in a restaurant in the US, whereas in the UK they say ‘bill’…so…in a nutshell:
Bill (UK) L’addition

Bill (US) Facture

Bill (US) Billet de banque

Banknote (UK) Billet de banque

Invoice (UK and US) Facture

Check (US) L’addition

Check (US) chèque

Cheque (UK) chèque

7. Wholesale is the activity of buying and selling goods in large quantities and therefore at a
lower price…especially selling goods to shopkeepers when then sell them to the public.
Retail refers to the activity of selling goods to the public.

8. A company that is Bust has no money left and has been forced to close down. and a
company that is Booming is successful, thriving, or prospering.
9. Amortization is a situation in which the value of intangible assets such as patents falls
because of their age or how much they have been used.; and Depreciation is when the
value of a tangible asset falls because of its age or how much it has been used.
10. Your Savings are the money that you have saved, especially in a bank. and
Investments are the amounts of money that you use in a way that you hope will
increase its value, or the thing that you invest it in.
11. A Deposit is a sum of money which is part of the full price of something, and which
you pay when you agree to buy it. The Balance is what remains to be paid for
something.
12. Leverage is the amount of borrowed money that a company uses to run its business.
and Liability is a debt of a person or business
13. To make a Small Wager is to have an agreement to pay a small amount of money
following the result of an unsettled matter and to Bet the Farm is to risk everything
that one owns on a bet, an investment, or an enterprise
14. A Bull Market is a situation on the stock market when people are buying a lot of
shares because they expect that the shares will increase in value and a Bear Market is a
situation on the stock market when people are selling a lot of shares because they
expect that the shares will decrease in value
15. A Forecast is what we think will happen in the future and Hindsight is the ability to
understand and realize something about an event after it has happened,
16. Growth is an increase in the size, number or significance of something and Recession
is a period when the economy of a country is doing badly.

17. A country's GDP is the total value of goods and services produced within a country in a
year, not including its income from investments in other countries. GDP is an
abbreviation for 'gross domestic product'. A country's GNP is the total value of all the
goods produced and services provided by that country in one year. GNP is an
abbreviation for 'gross national product'.

18. A company's Accounts Receivable are all the money that it is owed by other
companies for goods or services that it has supplied. and A company's Accounts
Payable are all the money that it owes to other companies for goods or services that it
has received
19. In business, a Cash Cow is a product or investment that steadily continues to be
profitable. and a Dog is a business unit that has a small market share in a mature
industry. It therefore neither generates the strong cash flow nor requires the large
investment that a cash cow or star unit would.
20. A Short Position is a technique used when an investor anticipates that the value of a
stock will decrease in the short term and a Long Position is the buying of a security such
as a stock, commodity or currency with the expectation the asset will rise in value.