Vocabulary

Use your dictionary to look up any new words.

1.Write the following words in the correct column.

absorption fixed produce (2) result (2) approach(2) job packaging plant (2) brand (2) cope with blend (2) perforation(s)

design(2) distinctive aim (2) acquire allocate length

useful valuation reliable guidance involve subjectively objectively

marginal accept short-run operate distinction revenue contribution loss lease (2) regret(2) decline(2) trading legally liable

incur staff (2) expenses leading(2) mail(2) supply(2) inclination closely include contribute overall objective(2) record (2) performance indication clarify discover increase(2) variance box (2)

2.Which verbs in A can go with nouns in B?

E.g: to make teabags

A

make cope with involve accept minimize discontinue suggest generate produce reduce include do cover introduce set clarify calculate

B

distinction look at method teabags variance trading brands revenue calculations target services costs product debt decisions losses order

3.Combine a word in A with a word in B to form a suitable noun phrase.

E.g: absorption costs.

A B

1) absorption 1) tea

2) fixed 2) statistics

3) packaging 3) costs

4) different 4) area (s)

5) particular 5) shop

6) general 6) plant

7)finished 7) expenses

8) semi – finished 8) catalogue

9) reliable 9) element

10) marginal 10) calculation

11) certain 11) indication

12) full 12) costing

13) direct 13) gates

14) a loss – making 14) performance

15) trading 15) brand

16) living 16) process

17) steel 17) goods

18) summer 18) figures

19) rapid 19) capacity

20) indirect

21) standard

22) detailed

23) production

24) historic

25) important

26) better

27) clear

28) inefficient

29) actual

30) total

Pre-reading task

Work in small groups.

You know already that costing is the process of identifying and allocating the costs associated with the production of a good or service. Each business enterprise facing the wide variety of problems uses a number of costing techniques. Do you have any idea what these techniques are?