liability, deficit, turmoil, enterprise, beneficiary: meanings and examples

Learn these 5 words from Business set 20. Each entry includes a definition, example sentence, pronunciation, and synonyms. Use the interactive cards above to practice them.

1. liability · noun/ˌlaɪəˈbɪlədi/

   the condition of being responsible for something

   Banks use computer security mechanisms to transfer liability to their customers.

   Synonyms: responsibility, accountability

2. deficit · noun/ˈdɛfəsət/

   the amount of money that is far less than the needed

   The new government claims the budget deficit is a result of the military expenditure of the previous government.

   Synonyms: shortage, shortfall, lack, shortcoming

   Origin: late 18th century: via French from Latin deficit ‘it is lacking’, from the verb deficere (see defect)

3. turmoil · noun/ˈtərˌmɔɪl/

   chaos

   The aviation sector faces economic turmoil over the coronavirus pandemic.

   Synonyms: disturbance, unrest

   Origin: early 16th century: of unknown origin

4. enterprise · noun/ˈɛn(t)ərˌpraɪz/

   a business organization

   We are hoping to bring you new insights on how to identify the right kinds of risks for your enterprise.

   Synonyms: business, company, firm

   Origin: late Middle English: from Old French, ‘something undertaken’, feminine past participle (used as a noun) of entreprendre, based on Latin prendere, prehendere ‘to take’

5. beneficiary · noun/ˌbɛnəˈfɪʃiˌɛri/

   someone who receives funds or property

   Each member of the union had to nominate someone to be the beneficiary of their savings in the event of their death.

   Synonyms: heir, recipient

   Origin: early 17th century: from Latin beneficiarius, from beneficium (see benefice)