TOEIC Business Vocabulary

Question 1

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

Accepted Answer

A list of items to be discussed at a meeting

Answer

A disagreement between colleagues

Answer

A formal contract between two companies

Answer

A financial report submitted quarterly

Question 2

What is an 'invoice' in a business setting?

Accepted Answer

A document requesting payment for goods or services provided

Answer

A verbal request for a service

Answer

An internal company newsletter

Answer

A signed employment agreement

Question 3

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

Accepted Answer

There is a strict date by which work must be completed

Answer

The project has unlimited resources

Answer

The project has been cancelled

Answer

Employees may work flexible hours

Question 4

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

Accepted Answer

The total income generated from sales or services

Answer

The total costs incurred by a company

Answer

Money paid to employees as salary

Answer

A loan taken from a financial institution

Question 5

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

Accepted Answer

Discussing terms to reach a mutually acceptable agreement

Answer

Signing a finalized agreement

Answer

Cancelling an existing contract

Answer

Transferring ownership of assets

Question 6

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

Accepted Answer

A brief written communication sent within an organization

Answer

A detailed annual financial report

Answer

A long-term strategic business plan

Answer

A legal document signed by a notary

Question 7

A business 'contract' is best described as:

Accepted Answer

A legally binding written agreement between two or more parties

Answer

An informal verbal promise between two people

Answer

A summary of a company's financial performance

Answer

A schedule of upcoming company events