Business Terms Vocabulary Practice (page 2)
Business Terms Vocabulary Practice
Words in Context
The following exercise will help you figure out the meaning of some words from the vocabulary list by reading context clues. After you have read and understood the paragraph, explain the context clues that helped you with the meaning of the vocabulary word.
When she took the job as the manager of a Wendy's franchise, Sarah quickly learned many things about the business world. On her first day of work, she read the discrimination policy, which stated that Wendy's does not discriminate against race, ethnicity, gender, sexual preference, or people with disabilities when hiring employees. Then she read Wendy's policy on sexual harassment and was glad to see that they were very strict about creating a comfortable working environment for all of the employees. Her boss explained that flirting of any kind was not tolerated at work. Next she was asked to fill out many forms, including a life insurance policy. She had to pick someone to be the beneficiary on the policy in the event of her death, so she picked her son, Michael. After she was done with all of the paperwork, Sarah followed her boss into the back room and he showed her the various systems they used and began to teach her the jargon used in the fast food industry. It was important to understand these terms because many vendors and members of the Wendy's company use this shorthand language. Sarah mentioned that her sister really wanted to work at Wendy's as well, but her boss cautioned her against committing an act of nepotism. He explained that it was important that every potential employee had a fair chance of employment and that, as store manager, it was her responsibility to ensure that she did not give preferential treatment to her family members. At the end of the meeting, her boss told her that as a perquisite in addition to her salary, she and her family were allowed one free meal a week at Wendy's.
Read a financial periodical to see many of these words in context. Seeing them in context will help you remember their meanings.
Insert the correct word from the vocabulary list into the following sentences.
- Beware of those two; they are always in _____ with each other to sell defective products at a hefty sum.
- They decided to settle the dispute through _____ because they couldn't agree on anything amongst themselves.
- I would love to start my own magazine, but I don't know where I am going to get the _____ to fund it.
- When employees refer to their company's _____ year, they are talking about the 12-month period that the organization plans to use its funds.
- Some industries have such a unique _____ that it can be difficult for an outsider to understand what people are saying.
- I was thinking of opening a(n) _____ of my favorite ice cream store, but the parent company's rules and regulations are too strict.
- I was _____ from taking Spanish 101 in college because I placed out of it with an exam that I took in high school.
- The _____ of this job are not too great; you have to work here four years before they give you a third week of vacation.
- Even though he is not a good teacher, he will never be fired because he has _____
- Now that I own a home, I can take many _____ on my taxes, which means I get to keep more of my income.
- Before I bought my apartment, I read everything about the building in its _____
- Because she was wrongfully accused of _____, she didn't lose her job.
- My daughter is the only _____ to my life insurance policy.
- This company is guilty of _____; only the president's immediate family holds a supervisory role.
- The three companies joined together to form a _____, making their presence in the industry even stronger.
- There is much debate about what to do with Social Security, a(n) _____ that many people depend on upon retirement.
- As a child, my favorite game was Monoply, so it is no surprise that I ended up working in _____.
- One thing I can say about the management here is that they treat all employees with _____ , which makes it a very pleasant place to work.
- The development company depleted the _____ that the city had donated to build a new park, so construction has halted.
- I can't prove it, but I think I have been a victim of _____; I am almost sure I was let go because I am a woman.
The following exercise lists vocabulary words from this chapter. Each word is followed by four answer choices. Three of them are synonyms of the vocabulary word in bold. Your task is to choose the one that is NOT a synonym.
- to take away
- the cost of children on your tax forms
- termination of employment
- guarantee of employment
- length of employment
- period of employment
- set apart
- value of property
- special privilege
- one who gives
- one who benefits
- one who inherits
- the act of making distinctions
- prejudiced treatment
- gift of money
Choose the word that means the opposite, or most nearly the opposite, of the following groups of words.
- addition, income, give
- favoritism, prejudiced, unfair, unjust
- giver, bestower, donor
- debt, poverty, insufficient resources
- forced, duty-bound, liable
- fairness, unprejudiced, equity
- friendly, unthreatening, not provocative
- unemployed, fired, lack of job security
- separation, liquidation, singular company
- slang, proper English, clichés
Match the word in the first column with the corresponding word in the second column.
- beneficiary a. privilege in addition to salary
- deduction b. grant of money
- arbitrage c. period of holding a job
- fiscal d. published report
- jargon e. pertaining to money
- exempt f. fairness or evenness of treatment
- franchise g. the buying of stocks to resell for profit
- consortium h. one who benefits
- discrimination i. special privilege enjoyed by a group
- equity j. accumulated wealth
- tenure k. the employment of friends or family
- arbitration l. terms specific to an industry
- perquisite m. the subtraction of cost from income
- collusion n. annoying persistently
- capital o. a deceitful agreement
- entitlement p. process of a dispute settled by third party
- prospectus q. independently run business owned by parent company
- subsidy r. excused from duty or job
- nepotism s. joining of two or more companies
- harassment t. the act of unfairly distinguishing between two groups of people
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