Business Vocabulary Flashcards

In a TOEIC context, what does the word 'agenda' most commonly refer to?

Answer: A list of items to be discussed at a meeting

An 'agenda' is a list of topics or items scheduled to be discussed or addressed during a meeting.

What is an 'invoice' in a business setting?

Answer: A document requesting payment for goods or services provided

An invoice is a formal document issued by a seller to a buyer listing the goods or services provided and the amount owed.

If a manager says the project has a tight 'deadline,' what does that mean?

Answer: There is a strict date by which work must be completed

A 'deadline' is a fixed point in time by which a task or project must be finished.

What does 'revenue' refer to in a business financial context?

Answer: The total income generated from sales or services

Revenue is the total income a company earns from its business activities, especially from sales of products and services.

When two parties 'negotiate' in a business deal, what are they doing?

Answer: Discussing terms to reach a mutually acceptable agreement

To negotiate means to discuss and bargain over terms and conditions in order to reach an agreement that works for all parties.

What is a 'memo' in a professional office environment?

Answer: A brief written communication sent within an organization

A memo (memorandum) is a short written message used for internal communication within a company or organization.

A business 'contract' is best described as:

Answer: A legally binding written agreement between two or more parties

A contract is a legally enforceable agreement between two or more parties that outlines rights, duties, and obligations.