12. Trace the difference between the words ‘earnings’, ‘income’ and ‘revenue’. Then, complete the following sentences with these words.

• Earnings are the sums of money earned by working. The word ‘earnings’ is always in the plural form. ‘Earnings’ is used in the expressions earnings per share and price/earnings ratio.

• Income is a synonym for earnings but may include unearned income acquired from other sources e.g. share dividends, property or other investments. It is subject to income tax. This noun can be used in the plural in the expression incomes policy.

• Revenue is similar in meaning to income but is more likely to refer to the money that a company or organisation receives through sales. We would not normally refer to a private individual’s income as revenue. It can be used in the plural. In Britain, the government department responsible for tax collection is the Inland Revenue.

1. Women’s …………….. are often less than men’s.

2. The government and Unions have negotiated a prices and ………………………. policy.

3. No one likes paying …………….. tax to the Inland ………………… .

4. The price / …………. ratio is the present market price of a share divided by the company's net ……………… per share in the previous accounting year.

5. A person's ……………………… falls dramatically on retirement.

6. …………………….. from advertising keeps the magazine's cost low.

7. You must declare your annual ………………. to the Inland ………………….

8. His monthly …………………….. is well above the national average.

9. A decline in oil …………………………… has led to a slowing-down in the programme of modernisation.

Grammar in Use

13. Find a corresponding definition for each phrasal verb and idiomatic expression with ‘put’.

1. put down to 2. put forward 3. put across 4. put back 5. put off 6. put on to 7. put through 8. put up 9. put out 10. put up with 11. put one's finger on 12. put one's foot in 13. put paid to 14. put in a good word for

a) connect by telephone b) tolerate, endure c) inconvenience someone; make a special effort d) destroy, ruin completely e) give someone information about smth. f) postpone or delay g) to attribute smth. to smth. h) say the wrong thing or make an awkward mistake i) explain or communicate clearly j) recommend someone k) find the cause of the trouble l) invest, provide money for m) move to a later date n) suggest, propose (an idea, scheme)

14. Rewrite the following sentences, replacing the words in italics with phrasal verbs or idiomatic expressions from the list above. Make any other necessary changes.

1. I think we’d better hold the meeting a week later.

2. Apparently a foreign investor has provided $lm to finance the project.

3. At such short notice, I can’t postpone my visit.

4. My boss won’t accept any inefficiency from his staff.

5. She knows a lot about the use of computers but she can’t seem to express her ideas clearly to the rest of us.

6. Our chairman has presented a proposal for a profit-sharing scheme.

7. I'm not surprised by our poor financial performance. I think it was caused by ineffective leadership.

8. I've been trying to discover why the morale of the sales department is so low but I just can't understand what the problem is.