Question 1
(Please note: The following questions are part of a cloze test. They are interrelated, meaning that the information provided in each question is connected to the others.)
SPENDING
Some people spend more money than they receive. In other words, their _____ is greater than their _____.
Expenditure is the money you spend. These people spend more than they receive, so their spending (expenditure) is bigger than the money they get. Not income: that is the money you receive, and it goes in the second gap.
Question 2
Some people spend more money than they receive. In other words, their _____ is greater than their _____.
Income is the money you receive, for example your salary. The sentence says these people spend more than they receive, so their expenditure is greater than their income.
Question 3
If you take more money out of the bank than you have in your account, you are _____.
If you are overdrawn, you have taken out more money than you have in your bank account, so you owe the bank money. Example: I'm £50 overdrawn this month. Not underdrawn: this is not used with this meaning.
Question 4
To keep a (an) _____ of your spending, it’s a good idea when you write a cheque to fill in the _____, which stays in the book.
Keep a record of something means to write down information about it so you can check it later. Example: I keep a record of everything I spend. Not counterfoil: that is the part of the cheque in the second gap.
Question 5
To keep a (an) _____ of your spending, it’s a good idea when you write a cheque to fill in the _____, which stays in the book.
A counterfoil is the small part of a cheque that stays in the chequebook after you tear the cheque out. You write the amount and date on it to remember what you paid. The clue is which stays in the book.
Question 6
Most cheques are _____ cheques, which means that no one else can _____ them.
A crossed cheque has two lines across it. Nobody can exchange it for money at a bank; it must be paid into the account of the person named on it. Not overdrawn: this describes a bank account, not a cheque.
Question 7
Most cheques are _____ cheques, which means that no one else can _____ them. They must be paid into someone’s account.
Here cash is a verb. To cash a cheque means to exchange it for money at a bank. A crossed cheque cannot be cashed; the next sentence says it must be paid into someone's account. Not overdraw: that means to take out more money than you have.
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