EXERCISE 1
Bookkeepers record every purchase and sale that a business makes, in the order that they take place, in (1) . At a later date, these temporary records are entered in or (2) to the relevant account book or (3) . Of course the “books" these days are likely to be computer files. At the end of an accounting period, all the relevant totals are (4) to the profit and loss account. (5) bookkeeping records the dual effect of every transaction - a value both received and parted with. Payments made or (6) are entered on the lefthand (debtor) side of an account, and payments received or (7) on the right-hand side. Bookkeepers will periodically do a (8) to test whether both sides of an account book match. In most business (9) the seller of goods or services sends the buyer a bill or (10) and later a (11) acknowledging payment. Businesses are obliged to retain the documents - known as (12) - that support or prove an item in an account, and make them available to the internal and external auditors who check the accounts. Bookkeepers are not to be confused with librarians, who also keep books, or with bookmakers, who “make books” in the sense that they accept bets (on horse races, etc.) and traditionally wrote them down in a book like a bookkeeper’s journal. Accountants, unlike bookkeepers, analyse financial records, and decide how to present them.

EXERCISE 2
Add appropriate verbs from the text above to these sentences:
1. Bookkeepers business transactions.
2. A debit is a payment .
3. A credit is a payment .
4. Debits are on the left-hand side.
5. At the bottom of the page, bookkeepers the totals.
6. Companies have to invoices and receipts.
7. The auditors the accounts.
8. Accountants, managers and shareholders the accounts.