Exam: BEC Higher

Definition: A person who manages and conducts an auction, helping to sell items to the highest bidder.

Example: The auctioneer called out the bids as the crowd eagerly raised their paddles.

Definition: To sell items to the highest bidder in a public sale.

Example: The auctioneer called out the bids as the crowd eagerly raised their hands.

Definition: To review or inspect financial records to ensure accuracy and compliance with regulations.

Example: The company will audit its financial statements at the end of the fiscal year.

Definition: A careful review of financial records or accounts to ensure they are correct and accurate.

Example: The company hired an external firm to conduct an audit of its financial statements.

Definition: To examine and check the accuracy of financial records or accounts, often conducted by an independent party.

Example: The company hired an external firm to audit its financial statements for accuracy.

Definition: A person who checks and reviews financial records to ensure they are accurate and comply with laws and regulations.

Example: The auditor found several discrepancies in the company's financial statements.

Definition: A person or entity that gives permission or approval for something to happen.

Example: The authorizer signed the document to allow the project to proceed.

Definition: To assign an earlier date to something than the date it was actually created or issued.

Example: The accountant decided to backdate the invoice to the previous month.

Definition: The process of loading goods onto a vehicle, especially when it is returning from a delivery, often to maximize space and efficiency.

Example: The company practices backloading to reduce transportation costs by filling trucks on their return trips.

Definition: To accumulate or gather items that are pending or not yet completed.

Example: The tasks began to backlog as the team struggled to keep up with the workload.

Definition: A large amount of work or tasks that have not been completed or processed yet.

Example: The company has a backlog of orders that need to be fulfilled.

Definition: To accumulate or gather items that are pending or not yet completed, often referring to tasks or orders that need to be addressed.

Example: The company had to backlog several orders due to supply chain issues.

Definition: The baht is the basic monetary unit of Thailand, used for transactions and trade.

Example: I exchanged my dollars for baht before traveling to Thailand.

Definition: A term used in marketing to refer to the non-banking divisions of a financial company that includes the word 'Bank' in its name, suggesting safety without guaranteeing it.

Example: The Banc of Manhattan Insurance offers various financial products that are not directly related to banking.

Definition: The quality of being able to attract investment or financial support.

Example: The film's bankability was boosted by its star-studded cast.