Financial Terms and Phrases Quiz

Study Notes

Dive right in
- Refers to starting an activity immediately with enthusiasm.
- Example: Initiating a discussion about future plans without delay.
Tighten our belts
- Means to reduce spending and live more frugally amid financial challenges.
- Example: Adjusting financial habits to stay on a set budget.
Overhead costs
- Ongoing expenses not directly linked to production, like rent and utilities.
- Example: Noteworthy increases in these expenses during a financial quarter.
Cut back
- Involves reducing or minimizing expenses.
- Example: Necessity to decrease spending to adhere to a budget.
Budget overruns
- Occurs when actual expenditures exceed allocated budget amounts.
- Example: Departments facing unexpected costs leading to overspending.
Scale back
- Refers to reducing the extent of activities, such as budgets or advertising.
- Example: Adjusting the advertising budget for the next quarter to fit financial constraints.
Free up
- Means to release previously tied up resources or funds.
- Example: Delaying non-critical projects to access necessary financial resources.
Factor in
- Involves incorporating various elements into the decision-making process.
- Example: Considering potential savings when planning budget allocations.

Raise red flags
- Signifies warning signals regarding potential issues, particularly in financial audits.
- Example: Identifying unusual spending patterns as points of concern.
Influx
- Describes a sudden surge or arrival of resources or participants.
- Example: Increased job applications due to recent job fairs.
Onboarding
- Refers to the process of integrating new employees into an organization.
- Example: Programs designed to help new hires acclimate quickly to their roles.

Underspent
- Indicates spending less than what was planned or budgeted.
- Example: Savings in certain areas providing flexibility for covering other expenses.
Jeopardizing
- Means putting progress or resources at risk due to imprudent spending.
- Example: Avoiding overspending on non-essential items to protect overall goals.
Ring-fenced
- Refers to allocating funds exclusively for a specific purpose, ensuring their availability.
- Example: Ensuring project funding is protected for intended use.
Reconvene
- Means to meet again after a break to continue discussions or evaluations.
- Example: Planning follow-up meetings to assess budget adjustments.
On track
- Indicates that progress is proceeding as planned without delays.
- Example: Meeting financial targets outlined for a specific quarter.