Exam: BEC Higher

Definition: A way of accounting that records income and expenses only when cash is actually received or paid out.

Example: The company uses a cash accounting method to track its finances.

Definition: Money that is in the form of coins or paper bills, used for buying things.

Example: I prefer to pay in cash rather than using a credit card.

Definition: To exchange a cheque or money order for cash, or to pay with cash.

Example: I need to cash my paycheck at the bank today.

Definition: A book used to record all money that comes in and goes out, including cash receipts and payments.

Example: The accountant updated the cashbook to reflect the latest transactions.

Definition: A cedi is the basic unit of currency used in Ghana.

Example: I exchanged my dollars for cedis at the bank.

Definition: The process of bringing things together into one central point or authority, often to make control or organization easier.

Example: The centralization of decision-making helped the company operate more efficiently.

Definition: A person or organization that officially confirms or verifies something, often by providing a certificate.

Example: The certifier issued a certificate to the company after reviewing their compliance with the standards.

Definition: To confirm or verify that something is true or meets certain standards.

Example: The expert will certify that the equipment is safe to use.

Definition: To officially confirm that something is true, accurate, or meets certain standards.

Example: The organization will certify the quality of the products before they are sold.

Definition: A large group of companies that are controlled by one family, often found in South Korea.

Example: Samsung is one of the most well-known chaebols in South Korea.

Definition: The position or period of being the leader of a meeting or organization.

Example: She was elected to the chairmanship of the committee for the next two years.

Definition: To rush forward quickly, often in a forceful or aggressive manner.

Example: The soldiers were ordered to charge at the enemy's position.

Definition: A claim or accusation of wrongdoing, a debt recorded in an account, or a financial burden. It can also refer to a forceful attack or a quantity of explosive.

Example: The police made a charge against the suspect for theft.

Definition: To cause something to have an electric charge or to instruct someone formally about a duty or responsibility.

Example: The technician will charge the battery before installation.

Definition: Relating to a temporary arrangement where a group hires transportation for their exclusive use.

Example: We booked a charter bus for our school trip to the museum.

Definition: A formal document that outlines the rights and responsibilities of an organization or group, often created by a government or authority.

Example: The city council approved a new charter for the local school district.

Definition: To hire or lease a vehicle, such as a bus or airplane, for a specific group or purpose.

Example: We decided to charter a bus for the school trip to the museum.