To pass this unit, please study the 20 vocabulary words below.
- Ad hoc
- Check
- Commission
- Compensation
- Curb
- Cutoff
- Fringe benefits
- Garnishment
- Overtime
- Reimbursement
- Requisite
- ROI (return on investment)
- Rigorous
- Salary
- State
- Statutory
- Tax code
- Tied to
- Wages
- Work out
Adjective
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for a particular purpose or need
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"As well as regular reports the CFO often demands ad hoc reports when the need arises."
Noun (thing)
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a printed form, used instead of money to make payments from a bank account
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"John didn’t provide his bank details in time for the transfer to be made, so he was paid by check instead."
Noun (thing)
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a system of payment or compensation based upon earning a percentage of completed sales
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"Commission is a common incentive in the sales sector as it encourages employees to sell more."
Noun (thing)
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the combination of payments and other benefits which employees receive
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"Large multinational companies can usually offer better compensation packages than small companies."
Verb (infinitive)
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reduce or limit
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"The company is trying to curb spending, so all salaries have been frozen."
Noun (thing)
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a fixed point, date or level at which you stop including things
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"The cutoff date for registration is the 30th of September, so make sure you apply before
then."
Noun (thing)
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an extra thing which is given to you by an employer
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"The company's package of fringe benefits includes: company car, pension plan and private health insurance."
Noun (thing)
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deduction of income or property from someone who owes a debt
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"After garnishment for alimony and child support, he was left with just enough to pay his rent."
Noun (thing)
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time worked in addition to your usual job hours
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"Approval must be given for all overtime worked."
Noun (thing)
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the act of paying back money which is owed
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"Remember to keep all receipts for fuel purchased with your own money for reimbursement at the end of the month."
Noun (thing)
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needed for a particular purpose or result
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"A masters degree is requisite to apply for the job."
Noun (thing)
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the yearly or monthly profit on an activity when compared to the invested capital
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"Most companies require a 20% yearly return on investment for the investment to be considered."
Adjective
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detailed and careful
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"I want a rigorous financial analysis of the budget."
Noun (thing)
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the fixed amount of money regularly paid to an employee, regardless of actual hours worked
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"His basic monthly salary is $1700 but this is subject to bonuses."
Verb (infinitive)
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to say or write something officially
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"The regulations state that all employees must hold a valid driving license."
Adjective
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decided, controlled or required by law
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"All companies are obliged to pay statutory sick pay, but many pay above this."
Noun (thing)
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a set of numbers and letters used to show the amount of income tax that an individual should pay
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"The higher the numbers in your tax code, the more tax-free income you have."
Adjective
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closely connected with, or reliant on
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"The bonus system is tied to company profits, so if we have a bad year there won’t be any bonuses."
Noun (thing)
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the agreed amount of money received, per time-unit worked (normally hourly), by a worker
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"Most countries have minimum wages but there are still companies paying less than that."
Verb (infinitive)
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calculate, find the answer to
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"One of the advantages of the computerized system is that it works out the tax due automatically."