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Specific English Vocabulary for Money: 01



Specific English
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Accounting:
The process of recording and classifying financial transactions.

Amortization:
The process of paying off a debt over time.

Asset:
Anything that has value and can be sold.

Balance sheet:
A financial statement that shows a company’s assets, liabilities, and equity.

Bankruptcy:
When a person or business declares that they are unable to pay their debts.

Compound:
To add interest to the principal of a loan.

Borrow:
To take money from a lender.

Lend:
To give money & expect it to be repayed.

To improve your money knowledge and English vocabulary.
Here are 5 money-related words and definitions:


Account:
A record of financial transactions.

Accounting:
The process of recording, classifying, and summarizing financial transactions.

Accrue:
To accumulate over time.

Accumulate:
To gather or collect.

Advance:
A loan or payment made before it is due.

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