Exam: BEC Higher

Definition: Describing something that has been settled or resolved, often in a legal or financial context, indicating that it is no longer in dispute or has been finalized.

Example: The company's assets were liquidated after it went bankrupt.

Definition: To close down a business or sell off its assets, often to pay debts.

Example: The company was liquidated after failing to recover from its financial losses.

Definition: The act of selling off a company's assets to pay debts or to close the business.

Example: The company went through liquidation to settle its debts after failing to make a profit.

Definition: A person who is responsible for closing down a company and selling its assets to pay off debts.

Example: The liquidator was hired to manage the sale of the company's remaining assets.

Definition: A sum of money that is borrowed and must be paid back with interest.

Example: I took out a loan to buy a new car.

Definition: To give something, usually money, to someone with the expectation that it will be paid back later.

Example: The bank will loan you money to buy a house.

Definition: A person or entity that receives a loan, typically money, from a lender and is expected to pay it back under agreed terms.

Example: The bank approved the application of the loanee for a new car loan.

Definition: A person who works at a port, loading and unloading cargo from ships.

Example: The longshoreman carefully moved the crates from the dock to the ship.

Definition: To be able to handle or cope with a situation, often in a way that allows one to continue or succeed.

Example: She learned how to manage her time effectively to balance work and study.

Definition: The act of controlling or organizing something, often related to tasks or people.

Example: Effective management is crucial for the success of any organization.

Definition: To control or be in charge of something, such as a business or a task, often involving making decisions and organizing resources.

Example: She was hired to manage the new project at work.

Definition: The process of organizing and controlling a group or activity to achieve specific goals. It can also refer to the people who are responsible for making decisions in a business or organization.

Example: Effective management is crucial for the success of any organization.

Definition: A person who is responsible for overseeing and directing a business, organization, or team, making decisions about how to manage resources and people.

Example: The manager organized a meeting to discuss the new project.

Definition: This word describes something that is connected to or typical of a person who manages or is in charge of a group or organization.

Example: She took a managerial role in the company, overseeing several departments.