D. Discuss the following with your partner.

  1. A. Role-play the following situation.
  2. A. Say whether the following statements are false or true.
  3. A. Study the following.
  4. Answer the following questions.
  5. Any topic in psychology can be approached from a variety of perspectives, thus there are many approaches in psychology. Match the following approaches with their descriptions.
  6. B. Draw a parallel between the practice of new product development in different countries. Discuss their advantages and disadvantages.
  7. B. Find the answers to the following questions in the passage given bellow. Put the passage in the correct order to form the text (use questions as the prompt)
  8. B. Practice the following conversation with a partner using the substitutions in the box.
  9. B. Read the text and find the answers to the following questions.
  10. B. Read the text below and find answers to the following questions.

1) What principle is the classification of assets based on?

2) What are current assets?

3) What types of investments can be distinguished?

4) What is the difference between tangible and intangible assets?

5) What does the term current liabilities refer to?

6) What is included into the category of long-term liabilities?

E. Study the classified balance sheet carefully and answer the following questions.

1) What are total assets?

2) What are total liabilities?

3) What is stockholders equity?

Classified Balance Sheet


UISE ELIASON and COMPANY Balance Sheet December 31, 2XXX
Current assets:    
Accounts Receivable 251,000  
Inventory .. 298,900  
Prepaid Expenses 50,000  
Total Current Assets $ 6000,000
Long-Term Assets:    
Land $ $ 125,000  
Plant and Equipment........................ $1,075,000    
Less: Accumulated Depreciation.. (283,200)    
Plant and Equipment Net 791,800  
Total Long Term Assets 916,800
Total Assets ... $1,516,800
Current Liabilities:  
Accounts Payable$ 501,000    
Short-Term Note Payable50,000    
Total Current Liabilities $ 551,000  
Long-Term Liabilities:    
Bonds Payable 300,000  
Total Liabilities $ 851,000
Common Stock, No Par Value,    
10,000 Shares Issued and Outstanding $ 400,000  
Retained Earnings 265,800  
Total Stockholders Equity . Total Liabilities and Stockholders Equity.... 665,800
$ 1,516,800


F. Translate the groups of derivatives:

a) account accountant accounting accountancy accountable accountability

b) assist assistance assistant

c) calculate calculated calculation calculator calculating

d) earn earner earnings earned

e) finance financial financing financier

f) owe owing owing to owed

g) own owner ownership owning owned

h) pay payable payee payment paid unpaid

i) profit nonprofit not-for-profit profitable unprofitable profitably profitability profiteer profiteering profitless

G. Match synonyms.

careful (accurate) to perform (duties)
controller commitments
executive to aid
obligations to supply
often to bring adequate return
operations to define
owners equity to reduce
plant assets to advance
sophisticated transactions
to assist administrative
to carry out frequently
to cut down fixed assets
to determine difficult
to profit chief accounting officer
to promote to launch
to provide net worth
to start proper  

H. Match antonyms.

bottom profit
decreases part-time
full-time expenses
intangible increases
long-term to exceed
loss to borrow
receivable top
revenues growth
to be salaried frequently short-term
to decline payable
to lack tangible
to lend to be paid a fee



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