Lexical test

I. Translate the following words and expressions from English into Russian:

Sole propritorship, profit of the business, to raise capital, sole trader, to start (up) a business, to repay the loan, to make a profit, legal relations, to be responsible for debts, lending institutions, to own a property, to mortgage his (her) own house, legal entity, owner of the business, limited liablity company, joint-stock company, to make a decision, to purchase interest, to participitate the partnership’s management, general partner, limited partner, joint and several liability, stockholders, state authorities, to buy and to sell shares, corporate ownership propriotorship, proprietor, failure of the business, to hire employees, financial activities, a rise in profit

II. Find synonyms in part b) to the words in part a):

a) benefit, drawback, owner, to establish, to get dididends, to retire, to fail, to be liable, to hire, to provide reports, annual income.

b) to end the business, to file reports, proprietor, to employ, revenue, advantage, to receive dividends, to be responsible, disadvantage, to be pensioned off, to found (to set up),

III. Translate the following sentences from English into Russian:

1) A sole propritorship is a business owned by one person.

2) The sole propritorship is the simplest organisational form.

3) The sole trader provides the capital and receives all the profits but he is

responsible for all business debts.

4) Often a sole trader needs a loan from the bank to start up the business.

5) Sometimes he has to mortgage his property to receive a loan.

6) The main disadvantage is that he can’t invest a large amount capital because if

the business fails a sole trader can lose all his property.

1) A partnership is an association of two or more persons who combine their

financial assets, labour, property and abilities to carry on a business for profit.

2) The agreement the partners usually sign to form an association is known as a

partnership contract (deed).

3. Partnership deed includes general policy, distribution of profits,responsibilities.

4. Partnerships have more advantages than sole propritorship. They are:

a) it is easy to to establish

b) it gets tax benefits from the government

c) financing is easier to obtain

d) all profits and loses are passed directly to owners

e) to pay debts the partners can use the property owned by the firm and needn’t

mortgage their own houses.

3. The main disadvantage is that they are personally responsible for all business

debts and legally liable for the whole business.

3. The partnership businesses often fail quickly when the partners disagree with

each other or die.

1. A business corporation is an organisation created by law for the purpose of

making profit.

2. A corporation can issue and sell shares and stocks to the public.

3. Corporations are also known as joint-stock companies because they are owned

by persons, called stockholders.

4. Though corporation is more difficult and expensive to organize than other

business forms it has a number of advantages. They are:

1. if the corporation goes bankrupt investors can lose no more than they have put.

2. money to operate the business is obtained by the sale of stocks to the general public

3. the corporation finds easier to borrow money from banks

4. large corporations can pay high salaries to hire professional and talented employees.

5. The great drawbacks of the corporate form of ownership is double taxation of

profits and different kinds of reports to be filed to federal and state agencies.