7. Find the answers to the following questions in the text.

1. What is included in technology?

2. What is technological advance?

3. What technological advances may increase the supply of chocolate?

Variant 2

1. Translate the following sentences. Pay attention on Participle I and II

1. If free migration between countries is allowed, people from poor countries will be able to go elsewhere looking for higher incomes.

2. People working in their own businesses should calculate the coast of their own time spent in running the business.

3. A man ran out of the house shouting.

4. Some of the people invited to the presentation can’t come.

5. Did you cut yourself shaving?

6. Having finished her work, she went home.

2. Choose the correct form of the participle suggested in brackets.

1. Excess supply is a situation in which, at a certain price, the quantity of a particular product (demanding/demanded) by buyers is less than the quantity (supplying/supplied) by industry.

2. Improvements in technology may be a factor (leading/led) to changes in agricultural supply.

3. At constant prices, an increase in income leads to an (increasing/increased) budget.

4. He sat at his desk (writing/written) something.

5. I want the letter (posting/posted) at once.

6. I saw him (photographing/photographed) the monument.

7. He asked questions (looking/looked) at us suspiciously.

3. Put the verb into the correct form, present simple or past simple, active or passive.

4. Most of the Earth’s surface ________ (cover) by water.

5. Ron’s parents ________ (die) when he was very young. He and his sister ______ (bring) up by their grandparents.

6. I was born in London but I __________ (grow) up in the north of England.

7. While I was on holiday, my camera _______ (steal) from my hotel room.

8. Why _________ (Mike/resign) from his job? Didn’t he enjoy it?

4. Write these sentences in another way, beginning as shown. Use the underlined word in your sentence.

Example: It’s said that she works 16 hours a day. She is said to work 16 hours a day.

1. It is said that the company is losing a lot of money. The company ______________________.

2. It is reported that many people are homeless after the floods. Many people ______________________.

3. It is thought that the prisoner escaped by climbing over a wall. The prisoner_______________.

5. Translate the following sentences into Russian.

1. A corporation is owned by stockholders.

2. Stockholders invest in a corporation in order to make a profit.

3. Profitability is the main aim of any business organization.

4. Shareholders and employees benefit from the growth of the company.

5. A number of companies have public relations departments to improve the image of the company.

6. Read and translate the text.

ACCOUTING

Accounting shows a financial picture of the firm. An accounting department records and measures the transactions on the firm’s financial condition. Accounting records give a very important data. It is used by management, stockholders, creditors, independent analysts, banks and government.

Most businesses prepare regulate the two types of records. That is the income statement and balance sheet. These statements show how money was received and spent by the company.

One major tool for the analysis of accounting records is ratio analysis. A ratio analysis is the relationship of two figures. In finance we operate with three main categories of ratios. One ratio deals with profitability, for example, the Return on Investment Ratio. It is used as a measure of a firms operating efficiency.

The second set of ratios deals with assets and liabilities. It helps a company to evaluate its current financial position. The third set of ratios deals with the overall financial structure of the company. In analyses the value of ownership of the firm.