Key business nouns that appear regularly in TOEIC. Many are formal alternatives to simple words: 'incentive' not 'reward', 'initiative' not 'plan', 'venue' not 'place'. Learn these and you will also understand Part 7 texts much more easily.
1
Staff members who exceed their sales targets will receive a financial ------- at the end of the year.
(A) reward(B) payment(C) incentive(D) bonus
2
The company has launched several new ------- to improve employee wellbeing and job satisfaction.
(A) plans(B) initiatives(C) programs(D) projects
3
The annual trade fair is one of the most important ------- in the industry calendar.
(A) events(B) occasions(C) venues(D) functions
4
The company's ------- in the Asia-Pacific region has grown significantly over the past decade.
(A) presence(B) appearance(C) position(D) standing
5
All travel must be booked through the approved ------- to ensure compliance with company policy.
(A) agent(B) channel(C) provider(D) vendor
6
The board approved an increase in the marketing ------- to support the new product launch.
(A) money(B) fund(C) budget(D) allowance
7
The company's strong financial ------- allowed it to weather the economic downturn successfully.
(A) state(B) standing(C) situation(D) position
8
The keynote speaker provided valuable ------- into the future direction of the technology sector.
(A) ideas(B) insight(C) knowledge(D) information
9
The event will be held at a ------- in the city centre with capacity for five hundred guests.
(A) location(B) venue(C) place(D) site
10
The new contract represents a significant ------- for the company in its efforts to expand overseas.
(A) progress(B) development(C) milestone(D) step
11
The merger created a new ------- with operations across twelve countries and forty thousand employees.
(A) company(B) entity(C) organisation(D) corporation
12
The board of directors approved the sale of a non-core business ------- to raise capital.
(A) unit(B) division(C) segment(D) branch
13
The customer service team received formal ------- for their handling of the product recall situation.
(A) praise(B) recognition(C) compliments(D) thanks
14
The company plans to ------- its operations by opening new branches in three additional cities.
(A) expand(B) grow(C) scale up(D) extend
15
All suppliers are required to provide ------- of their quality certifications before contracts are issued.
(A) evidence(B) proof(C) documentation(D) both A and C
16
The ------- of the presentation focused on the company's plans for sustainable development.
(A) content(B) subject(C) theme(D) focus
17
The customer lodged a formal ------- about the quality of service received at the branch.
(A) complaint(B) comment(C) concern(D) issue
18
The project is currently in its early ------- and is expected to be completed within six months.
(A) phase(B) step(C) period(D) stage
19
The sales conference provides an excellent ------- for networking with industry professionals.
(A) chance(B) possibility(C) opportunity(D) occasion
20
The company will hold an ------- for the new product range at the downtown convention centre.
(A) event(B) exhibition(C) expo(D) both B and C
Q1C
Q2B
Q3A
Q4A
Q5B
Q6C
Q7D
Q8B
Q9B
Q10C
Q11B
Q12B
Q13B
Q14A
Q15D
Q16C
Q17A
Q18A
Q19C
Q20D
Q1 (C) incentive — incentive = something that motivates action. 'Financial incentive' is the formal term. 'Bonus' is also correct in context.
Q2 (B) initiatives — initiatives = formal plans or strategies launched to achieve a specific goal.
Q3 (A) events — events = the most neutral and formal general term for organised occasions.
Q4 (A) presence — presence = having an established existence/operation in an area. Key business term.
Q5 (B) channel — channel = approved route or method. 'Official channel' is common in formal communication.
Q6 (C) budget — budget = the allocated amount of money for a specific purpose. Key TOEIC word.
Q7 (D) position — financial position = the overall state of a company's finances. 'Financial standing' also works.
Q8 (B) insight — insight = deep understanding or perception. 'Provide insight into' is a fixed expression.
Q9 (B) venue — venue = the specific place where an event is held. Key event-management word.
Q10 (C) milestone — milestone = a significant point of achievement in a process.
Q11 (B) entity — entity = a formally recognised organisation or unit. Legal/formal business term.
Q12 (B) division — division = a major section of a large company. 'Business division' is more formal than 'unit'.
Q13 (B) recognition — recognition = formal acknowledgement of achievement or good work.
Q14 (A) expand — expand operations — standard collocation. 'Scale up' is less formal.
Q15 (D) both A and C — Both evidence and documentation are correct — both mean formal written proof.
Q16 (C) theme — theme = the central topic or idea running through a presentation.
Q17 (A) complaint — complaint = a formal statement of dissatisfaction. 'Lodge a complaint' is the standard expression.
Q18 (A) phase — phase = a distinct stage in a planned process. 'Early phase' and 'early stage' are both used.
Q19 (C) opportunity — opportunity = a favourable time or situation. Most formal of the options.
Q20 (D) both B and C — Both exhibition and expo are correct — 'expo' is short for exhibition/exposition.