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Level 2

Business


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earn
to get money for working
income
earned money
gross
before tax
net
after tax
value-added tax
a tax paid on products and services by end-customers
salary
money earned per month or year
wage
money earned per hour
commission
money earned relative to sales
sales turnover
total amount of money a company earns in a year, not including VAT (British English)
total sales
total amount of money a company earns in a year, not including VAT (American English)
costs
the money a company spends
profit
when sales are higher than costs you have a _____
loss
when costs are higher than sales you have a _____
asset
anything with positive value
liability
anything with negative value (debt)
balance sheet
a document which shows the current financial situation
annual report
a yearly balance sheet
stock
a piece of a company which you can buy
stockholder
someone who owns stocks
stock market
where stocks are traded