Unit 19: Vocabulary

To pass this unit, please study the 20 vocabulary words below.
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adverse
having a negative or harmful effect
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Recent bad publicity had an adverse effect on the company's sales.
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at their disposal
available to be used by somebody
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The company has millions of dollars at its disposal to fund new research.
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carry out
to perform or complete a job or activity
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The IRS carried out an audit of the company as a result of errors in the accounts.
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contrast
to compare with an aim to showing the differences
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By contrasting this years' expenditure with last years', we will see the main differences.
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cover
to deal with or to include something
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You need to ensure that the report covers all possible costs.
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cyclical pattern
a trend which is repeated at intervals
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Changes in the economy have followed a cyclical pattern.
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designated for
stated as officially having a particular purpose
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This building has been designated for the accounting team.
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drawing up
officially preparing a written document
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The lawyers drew up the contract of sale.
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dynamic budget
a financial forecast which adapts to changes of one or more variable
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Dynamic budgets have become more popular since it is increasingly difficult to precisely forecast sales volume.
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eliminate
to completely remove something which is not wanted
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It is impossible to eliminate all risk in investment so you should seek advice on the safest options.
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go ahead
to continue or proceed
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The meeting went ahead when John returned.
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go over
to look at in detail, to study
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After going over the budget, it is clear that we will not meet our sales targets.
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margin of safety
the amount by which sales can decrease before a company becomes unprofitable
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As our margin of safety is only 10,000, we need to look at ways of increasing sales.
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marginal cost
marginal cost: the cost of producing one more item as compared to the cost of producing all items
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Marginal costs are generally relative to the amount of fixed costs.
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omission
the failure to include or do something
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The omission of the depreciation cost for the year meant the budgeted figures were not correct.
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on account of
because of, due to
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The company was closed on account of low sales and high costs.
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ran into
encountered unexpectedly
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The company ran into financial problems when the exchange rate changed significantly.
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referred to
checked or consulted a source of information
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"I'm afraid that I do not know, I will need to refer to my manager for that answer."
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set aside
to save something for a special purpose
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The management have been setting $500 a month aside for the staff party.
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setting out
arranging or preparing something for others to see or use
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The CFO set out new regulations for payment processing.
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