XIII. Read and remember some English idioms useful for businessmen:

1. Bank on someone or something - to trust, to rely on; покладатися на когось або щось.

2. Break the bank - to win a lot of money; "зірвати банк", тобто виграти багато грошей.

3. A fat check/cheque - a check for a large amount of money; чек на

велику суму.

4. Give someone a blank cheque - to allow someone to spend an unlimited amount of money; "дати комусь карт-бланш", тобто надати повну свободу у витратах.

Lesson 10

I. Read the following words and word combination and learn their meanings by heart:

A company - компанія; liability - відповідальність; a limited liability company - компанія з обмеженою відповідальністю; unlimited liability company - компанія з необмеженою відповідальністю; a joint-stock - company - акціонерне товариство; limit - межа, рубіж, обмежувати; a holding company - холдингова компанія, компанія-засновник; a subsidiary company - дочірня (підконтрольна) компанія; a joint venture - спільне підприємство; liability - боргове зобов'язання; to subscribe - жертвувати гроші, субсидувати; debenture - дебентура, облігація, боргове зобов'язання (розписка); to transfer -передавати, переказувати; affiliate - філія, дочірнє підприємство.

II. Read and translate the text: different companies

Company is made of a number of people united in an industrial or commercial enterprise.

There is a difference between a corporation, a sole trader and a partnership. The principle difference is that a sole trader and a partnership are not corporations but limited companies are.

A corporation is a company that is publicly registered and legally separated from its owners. It means that the corporation stays in existence even after the death of any of its owners. As a corporation, a business can buy and sell assets in its own name, make contracts (agreements), defend itself in court or be taken to court by customers, creditors or suppliers.

Each company works out its own policy. It is a selected, planned line of conduct in the light of which decisions are made and co-ordination of work achieved.

Limited Liability Company. A joint-stock company, the financial liability of whose members is limited by law.

Private Limited Company. A limited company which must not invite the public to subscribe for its shares or debentures, and does not allow its members to transfer their shares without the agreement of the other shareholders. It must have at least two but usually not more than fifty members.

Public Limited Company. A limited company which can offer its shares and debentures to the public; there is normally no limit to the right of its members to transfer their shares to other persons. There is no limit to the total number of members except that there must be at least seven. Abbreviated: P.l.с.; plc; PLC. In Britain such a company must include the words "public limited company" or the abbreviation as part of its name. In France the equivalent is Societe (S.A.); in Germany, Aktiengesellshaft (AC); in Holland, Naamlose Vennootschap (N.V.); in Italy, Societa per Azioni (S.p.A.).

Subsidiary Company. A company of which more than a half ot the share-capital is owned by another company, is called either a holding company or a parent company. The subsidiaries of the same parent or holding company are said to be affiliates.

Holding Company. In Britain, a company that has been formed for the special purpose of holding all, or more than half, the share-capital of one or more other companies called subsidiary companies. In the USA it is called a pure holding company, while an operating holding company is a company which operates a business, i.e. trading, and also holds more than half the capital of one or more other companies.

Joint-Stock Company. In Britain a form of business organisation, called a corporation in the US, which has its capital divided into many small units of stock or into shares of low face value so that they may be bought by small and large investors.

III. Retell the text according to the following questions:

l. What is a company? 2.What is a difference between a corporation, a sole trader, a partnership? 3.What is a corporation? 4.What can a business as a corporation do? 5.What is a company's policy? 6. What types of companies are there? 7.What is a difference between a public limited company and a private one? 8.What is a holding company?

IV. Learn the following groups of:

1. synonyms:

Busy - engaged - occupied; to do - to perform - to execute; to accept -to agree; company - firm - business; to offer - to suggest - to propose; total - whole; purpose - aim - goal; contract - agreement; subsidiary - affiliate.

2. antonyms:

Right - duty, to include - to exclude, to defend - to accuse, to separate -to unite - to join, to allow - to forbid, low - high, public - private.

V. Match the word on the left with the statement on the right:

1. Consumer _______ Funds that finance the operation of a business.

2. Charge _______ art and science of directing the business of an organization.

3. Inputs ______ Bank clerk or cashier. _ The people employed in an organization.

4. Teller _______ Prise demanded for service or goods. A person who buys goods and services for his or her own use or consumption.

5. Capital _______ Factors of production - resources used in the…

6. Management _______ process of production such as land, labour, capital.