Business Organisation
What is the main difference between a Sole Trader and a Partnership?
A Sole Trader is owned and managed by one person, while a Partnership is owned by two or more people who share profits and risks.
What does the acronym ATM stand for?
Automated Teller Machine (cash machine / bancomat).
Choose the correct verb form: "Our company _______ (open) a new branch in Milan last month."
Opened (Past Simple – action completed at a specified time in the past).
The bank manager _______ us that our loan application was approved."
told (because it is followed directly by a personal object: us).
What is the main difference between an Ltd (Private Limited Company) and a PLC (Public Limited Company)?
Shares in an Ltd are sold privately to known individuals, whereas shares in a PLC are traded publicly on the Stock Exchange.
What is the difference between a Debit Card and a Credit Card?
A Debit Card deducts money immediately from your bank account, while a Credit Card allows you to borrow money up to a limit and pay it back later (usually at the end of the month).
Choose the correct verb form: "We _______ (already / send) three invoices this week."
Have already sent (Present Perfect Simple – finished action in an unfinished time period).
Complete with the correct form of the verb: "We look forward to _______ (receive) your quotation and avoid _______ (delay) the shipment."
receiving / delaying (look forward to + -ing, avoid + -ing).
What is a Cooperative?
A non-profit-making association of people run jointly by its members (workers, customers, or producers) who share the profits and benefits.
What is the difference between a Cheque and a Bank Draft?
A Cheque is written and signed by an individual/company (risk of bouncing), while a Bank Draft is issued and guaranteed directly by the bank.
Complete with the correct tense: "The export manager was exhausted because she _______ (negotiate) with Chinese clients all morning."
had been negotiating (Past Perfect Continuous – duration/process leading up to a point in the past) OR had negotiated (Past Perfect Simple).
Transform into the passive voice: "The logistics department is processing your order right now."
Your order is being processed by the logistics department right now."
What is a Franchising agreement?
A business arrangement where a company (franchisor) sells the right to another person/business (franchisee) to use its brand name and sell its products in exchange for a fee/royalty.
Name two advantages and one risk/disadvantage of Mobile Banking.
Advantages: 24/7 access, speed, convenience, real-time tracking.
Risk: Phishing/cyberattacks, fraud, or loss of phone access.
Combine into one sentence using the Past Perfect: "The customer paid the bill. Then, the supplier dispatched the goods."
The supplier dispatched the goods after the customer had paid the bill" (or "When the customer had paid the bill, the supplier dispatched...").
Transform into the passive starting with the person: "The accountant gave Mr. Ross a copy of the contract."
Mr. Ross was given a copy of the contract (by the accountant).
What is a Multinational?
A large enterprise that operates, produces goods, or provides services in more than one country, with headquarters in a home country and subsidiaries worldwide.
What is a Letter of Credit in international trade?
A financial document issued by a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.
Explain the difference in meaning between:
"I have worked for this bank for 5 years."
"I have been working for this bank for 5 years."
(1) emphasizes the fact/result/permanence,
(2) emphasizes the ongoing process, duration, or continuous activity.
Turn the question into Reported Speech: "Did you sign the agreement yesterday?" the director asked the secretary.
The director asked the secretary if / whether she had signed the agreement the day before / the previous day.