Grammar Exercises

Exercise 1. Make the sentences negative.

Model: They have held a meeting.

They haven't held a meeting.

1. The stockholders have elected the Board of Directors.

1. This corporation has issued the stock.

2. The Board of Directors has chosen the company officers.

3. This company has greatly expanded.

4. We have already applied for a corporate charter.

Exercise 2. Put up 4 questions of 4 types (general, special, disjunctive, alternative) to each sentence.

Model: The stockholders have held the annual meeting.

1. Have the stockholders held the annual meeting?

1. What have the stockholders done?

2. The stockholders have held the annual meeting, haven't they?

3. Have the stockholders held a meeting or a conference?

1. The partners have applied for a corporate charter.

1. The stockholders have voted at the annual meeting.

2. The company has issued the additional stock.

3. They have invested all their money in this company.

Exercise 2. Put up four questions or different types (general special, disjunctive, alternative) to each sentence.

Model: The partners are getting along quite well.

1. Are the partners getting along quite well?

1. Why are the partners getting along quite well?

2. The partners are getting along well, aren't they?

3. Are the partners getting along well or badly?

1. Jane is doing the books in our firm.

2. We are putting the same amount of money into business.

3. My brother is investing his money in the private cafe.

4. They are distributing the losses unequally.

5. We are combining resources very well.

LESSON 3

CORPORATIONS

Text

A business corporation is an institution established for the purpose of making profit. It is operated by individuals. Their shares of ownership are represented by stock certificates. A person who owns a stock certificate is called a stock-holder.

There are several advantages of the corporate form of ownership. The first is the ability to attract financial resources. The next advantage is the corporation attracts a large amount of capital it can invest it in plants, equipment and research. And the third advantage is that a corporation can often higher salaries and thus attract talented managers and specialists.

The privately owned business corporation is one type of corporation. There are some other types too. Educational, religious, charitable institutions can also incorporate. Usually such corporation does not issue stock and is nonprofit. If there is a profit it is reinvested in the institution rather than distributed to private stockholders.

In some western countries, cities, states, federal government and special agencies can establish governmental corporations. A few examples of these governmental corporations are state universities, state hospitals and city owned utilities. Governmental corporations are non-profit as a rule and usually they do not issue stock certificates.

Active Vocabulary

corporation корпорация

to establish учреждать

stock sertificate акция

stockholder (shareholder) акционер, держатель акций

to attract financial resources

to offer high salaries to attract a large amount of capital

educational, religious, charitable institutions

to issue stock nonprofit to reinvest

привлекать финансовые ресурсы

предлагать высокие зарплаты привлекать большой капитал

образовательные, религиозные,

благотворительные

учреждения

выпускать акции

неприбыльный

вкладывать еще раз