1) The company saw net profits fall as a result of the ___ in the industry world-wide.
downfall
downgrade
downturn
downward

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2) It is important for many small businesses to improve their credit ___ and ensure customers pay on time.
limit
control
risk
term

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3) All letters of credit should include an expiry date when payment is ___.
called
complete
ready
due

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4) We apologise for the difficulty we are experiencing in paying your ___ account.
delayed
waiting
outstanding
owing

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5) Thank you for your ___ of $500 which we received today.
remittance
remission
remains
remuneration

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6) The credit terms ___ that payment should be on presentation of the goods.
remind
stipulate
agree
settle

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7) It’s important to ___ customer references when offering credit.
take on
take down
take up
take in

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8) If you do not pay your bill within the next few days we will have to consider taking legal ___.
prosecution
action
instruction
presentation

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9) He was offered a bank ___ when the company experienced financial problems.
payment
credit
overdraft
debt

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10) If customers fail to ___ their bills you can be left with a serious cash-flow problem.
meet
charge
invoice
state