Exam: BEC Higher

Definition: A person or organization that makes a payment, especially in a financial context.

Example: The payor is responsible for settling the invoice by the due date.

Definition: A payment of money, often a large sum, given to someone, especially as compensation or a share of profits.

Example: The company announced a significant payout to its shareholders this quarter.

Definition: A record of employees who are paid by a company, including how much money each person earns.

Example: The company updated its payroll to include new employees.

Definition: A regular payment made to someone after they retire, usually based on their previous earnings, or a type of small hotel that offers meals and lodging.

Example: After working for thirty years, she finally received her pension, which allowed her to enjoy her retirement.

Definition: A regular payment made to a person after they retire from work, usually based on their previous earnings and years of service.

Example: After working for thirty years, she received a pension that allowed her to enjoy her retirement.

Definition: A type of currency that was used in various countries, particularly in the Middle East and North Africa.

Example: The merchant accepted payment in piasters for the goods sold.

Definition: A type of money that was used in the Ottoman Empire and is still used in some Middle Eastern countries like Egypt and Lebanon.

Example: The price of the book was 50 piastres.

Definition: A woman who promotes or sells products, often in advertisements or presentations.

Example: The pitchwoman demonstrated the features of the new kitchen gadget on television.

Definition: A book or notebook that contains plans, strategies, or diagrams for plays, especially in sports like football.

Example: The coach reviewed the playbook to prepare the team for the upcoming game.

Definition: A person who promises to do something or gives a commitment, often in a formal way.

Example: The pledger agreed to donate a portion of their salary to the charity.

Definition: A person or entity that owns an insurance policy and is entitled to its benefits.

Example: As a policyholder, you have the right to file a claim for damages covered by your insurance.