VOCABULARY FOCUS. Ex. 1.Using a dictionary add as many words as possible to the table

Ex. 1.Using a dictionary add as many words as possible to the table. An example has been given to help you.

Ex. 2. Choose the words with similar meaning from the two groups and arrange them in pairs.

A. Objective, lender, board, charter, expenses, management, owner, revenue.

B. Creditor, governing body, regulations, overheads, aim, administration, proprietor, income.

Ex. 3.Fill in the missing words from the text.

1. A business organization is frequently referred to as a business….. .

2. A single proprietorship is business………. by an individual and often ……… by the same individual.

3. The major disadvantage of partnerships is that partners are legally liable for all …………… of the firm.

4. The partners together are …….… for all the firm’s liabilities.

5. Partnerships are not easy to ……..… as sole proprietorship.

6. In limited companies, ownership is represented by ………. .

7. A board of directors has the responsibility of setting the enterprise’s ……….… .

8. If an incorporated business goes …….., owners do not have to meet the liabilities with their own personal holdings.

9. Limited companies are …………. to federal and provincial income taxes.

10. Limited companies are …………….… twice.

Ex. 4. Complete the sentences with the words from the box below.

1. There are three major legal forms of … : sole proprietorship, the partnership and the limited company.

2. A sole proprietorship is owned and operated by a … individual.

3. A … … can be dissolved as easily as it can be started.

4.A sole proprietorship offers the owner freedom and … in making decisions.

5.A partnership is an unincorporated enterprise owned by two or more … .

6.One partner may possess the management skills … the firm.

7.In partnerships, the unlimited … is both join and personal.

8.Limited companies are separate from the people who … and manage them.

9.The owners of limited companies elect a board of … at an annual meeting.

10.Shareholders of corporations can only lose the amount of money they have invested in company … .

Ex. 5. Translate into English.

1. Единоличное владение – самая простая форма организации бизнеса.

2. Единоличное владение предоставляет владельцу свободу и гибкость в принятии решений.

3. Владелец ответственен за все долги компании.

4. Время существования компании может быть ограничено банкротством, тюремным заключением, уходом на пенсию, прихотью владельца и т.д.

5. Заимодавцы предпочитают вкладывать деньги в партнерства, чем в единоличные владения, поскольку все партнеры являются финансово ответственными.

6. Партнерства не так легко распускаются, как единоличные владения.

7. В компаниях с ограниченной ответственностью собственность представлена акциями акционерного капитала.

8. Акционеры могут только потерять деньги, инвестированные в корпорации.

9. Дивиденды акционеров корпораций облагаются налогом на основе индивидуального принципа.

10. Компания обязана посылать акционерам ежегодный отчет, отражающий финансовое состояние фирмы.

Ex. 6. Make up you own sentences using the following words and word combinations.

Forms of ownership, sole proprietorship, a single individual, most common form of ownership; partnerships, easy to start, partners, to be legally liable for all debts, owners, limited companies, board of directors.