Comprehension Questions

1. What is the difference between a general partnership and a limited partnership?

2. Is there any difference between, a silent partner and a secret partner? What is this difference?

1. In what professional fields are the partnerships found?

2. In what businesses is the partnerships common form?

3. What are the advantages of a partnership?

3. Discuss the disadvantages of a partnership. Would you prefer partnership or sole proprietorship for business? Give

your reasons.

Exercise 6. Agree or disagree with the following statements. Use the following phrases and words:

That's right

You are quite right.

I fully agree with you.

I share your opinion.

I'm afraid, you are mistaken.

By no means!

On the contrary!

1. Any business may have the form of the partnership.

2. The partnerships are often found in such professional fields as law.

accounting, insurance.

3. The partnerships are difficult to form.

4. Partnerships and sole proprietorships do not generally get tax benefit

from the government.

5. The main disadvantage of the partnership is unlimited liability.

6. A silent partner is a person who is not known to the public.

Vocabulary Practice

Exercise 12. Select the necessary word in the sentence.

1. Partnership very often receive... from the government.

2. Limited partnership is a common form of ownership in...

3. Partnerships have many..., one is that they receive tax benefits from the government. 4....are the partners with unlimited liability.

5....has the authority in management but he is not known to public…

6. A secret partner takes part in...

7. General partners have...

8. One advantage of a partnership is that it offers a multiple source of...

9. A partnership can bring much... to the partners.

(secret partner, unlimited liability, real estate, general partner, advantage, profit, capital, management, tax benefits)

Grammar Exercises Exercise 13 Make the sentences negative.

M о d e 1: I am going into business.

I am not going into business.

1. Your business is receiving the tax benefits.

2. Your partnership is running the great risk.

3. We are getting along quite well with my partner.

4. They are going to be general partners.

5. The partners are sharing profits and losses with each other.

6. Their partnership is losing their profit every month.

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

M o d e l: The partners are getting along quite well.

1. Are the partners getting along quite well?

2. Why are the partners getting along quite well?

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

4. 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.

Exercise 14. Заполните пропуски словами WHO, WHICH или THAT.

1. This is a letter from a friend, ... lives in Glasgow.

2. This is a letter from a company, ... sells computers.

3. The boy, … is only fourteen, is going to be a splendid athlete.

4. When are you going to look through the telexes … came this morning?

5. I can’t find the telephone bill … was here a few minutes ago!

6. We must catch the train ... leaves at exactly ten.

Exercise 15. Заполните пропуски артиклями.

1. Have you seen ... mail which arrived yesterday afternoon?

2. Have you ever met ... seaman who doesn't love the sea?

3. ... man who's just finished reading his paper is a friend of mine.

4. Let's listen to ... man who's going to speak next, shall we?

5. Can I speak to a representative of ... firm which sells these cassette recorders?

6. … Talk, which was very interesting, took an hour and a half.

7. I can’t sit through ... talk that takes over two hours. Can you?

8. They live in ... district which is one of the best in the city.

Combine these sentences, using a relative clause

M o d e l: She's the nurse. She works at Middleford Hospital.

She's the nurse who works at Middleford Hospital.

Is that the ring? Did Peter give it to Mary?

Is that the ring Peter gave to Mary?

1. Russia is a country. I have never visited.

2. Is he the bank clerk? Does he work with Mr Brown?

3. He is the teacher. He gives interesting lessons.

4. The money for the job was not enough. I refused it.

5. Mary is the girl. He wants to marry her.

Suppose, you are manager of a company.

You are interested to know, what your fellow workers are busy with at the moment.

Ask 15 questions, using The Present Continuous Tense.

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ТЕМА 3

CORPORATION

Text

A business corporations an institution established for the purpose of making profit. It is operated by individuals. Their shares of ownership are represented by stock certificates. Л 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 father 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.