Ex. 11. Replace the words in italics by the synonyms from the text or Ex. 10.

1. owner may stopdoing business

2. so people hesitate to chase the dream

3. difficulty in getting capital

4. A sole proprietorship is also referred to as private enterprise

5. lenders arecareful of giving money

6. the owner is legally liable for all liabilities of the company

7. A sole proprietorship is the most popular form of ownership.

8. a proprietor needs an initial capital

9. to operate under a strict charter

10. The organization expenses for licenses are minimal.

11. A proprietorship has a limited life, being ceased on the death of the owner.

12. when a creditor files for failure

Ex. 12. Translate the sentences into Russian.

1. He is leaving the company to pursue his own business interests.

2. We are working together for a common purpose

3. He is deeply in debt.

4. They are liable to sack you if you start complaining about your salary.

5. He’s a hard-worker. He works without cease.

6. The business has liabilities of 2 million dollars.

7. In command economy selling and purchasing of land is under rigid government control.

8. He did his best in a chess tournament in order to obtain a reward.

9. A lot of companies will profit from the fall in interest rates.

10. My project failed.

11. Balance sheet is a statement that shows the financial position of a business enterprise at a

specified date.

12. He has enough flexibility to cope with the job.

COMPREHENSION

Ex. 13. Complete the ideas.

1. For some people owning their own business has been a lifelong dream. . . .

2. While each business is different, there are some basic things every small business needs to

succeed. . .

3. A sole proprietorship is the easiest form of business to organize . . .

4. A sole proprietorship is the oldest and the most common form of ownership . . .

5. A sole proprietorship can be dissolved as easily as it can be started . . .

6. The financial condition of the firm is the same as the financial condition of the owner. . .

Ex. 14. Say if these sentences are true or false. Correct the false ones.

1. Almost all people are ready to start their own business because they are self-confident and

are not afraid to fail.

2. You don’t need to have a good idea, any knowledge, experience, or common sense to start

your own business.

3. A sole proprietorship is the easiest form of business to organize.

4. The organization costs for obtaining registration and municipal licenses are very high.

5. A sole proprietor has absolute control over the use of the company’s resources.

6. A sole proprietorship is a contractual relationship between two or more persons carrying on a

joint business.

7. A proprietorship has an unlimited life, it can’t be terminated under any circumstances.