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

1. What is the purpose of accounting?

2. Who uses the data provided by accounting firms?

3. What are the two types of records which most businesses prepare?

Variant 3

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

1. Varying input, the firm can vary output.

2. The work of a farm worker and the work of a nurse are very different, but both are measured in terms of payment received.

3. Do something! Don’t just stand there doing nothing!

4. Be careful when crossing the road.

5. After finishing her work, she went home.

6. Most of the goods made in this factory are exported.

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

1. Every day in thousands of markets, consumers show which goods they prefer (making/made) practical choices and (spending/spent) money on some particular goods rather than others.

2. The theory of consumer choice (basing/based) on individual utility shows how different tastes result in different demands for the same goods.

3. The theory of supply assumes that the producer (demanding/demanded) on a product technology wants to maximize profit.

4. A subsidy is money (giving/given) by a government to some producers, for example farmers, to help them to produce at a low price the goods or services (needing/needed) by the public.

5. In a dynamic economy, the factors (influencing/influenced) the level of demand and supply, are changing.

6. Expenditure is an amount of money (suspending/suspended).

7. The price of land (calling/called) rent depends on supply and demand.

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

4. While I was on holiday, my camera _______ (disappear) from my hotel room.

5. Why _______ (Sam/sack) from his job? What did he do wrong?

6. The company is not independent. It ______ (own) by a much larger company.

7. I saw an accident last night. Somebody _______ (call) an ambulance but nobody _______ (injure) so the ambulance _______ (not/need).

8. Where ____________ (these photographs/take)? In London? _________ (you/take) them?

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 alleged that the man drove through the town at 90 miles an hour. The man is ______________________.

2. It is reported that the building has been badly damaged by fire. The building ____________________.

3. It is believed that the company lost a lot of money last year. The company ________________________.

5. Translate the following sentences into Russian.

1. Private businesses are formed mainly to provide for material wants (i.e., goods and services) and commercial wants (i.e., banking, insurance) in society.

2. Organizations are established to meet wants in society.

3. Government Organizations satisfy society’s desire for defense, law and order, education and social welfare.

4. Stocks are the certificates of ownership in the corporation.

5. Stockholders are individuals who invest in a corporation by buying shares of stock.

6. Read and translate the text.

BANKS AND BUSINESS

Banks are different in different countries. Let’s speak about the banks in the United States of America. There, commercial banks are classified into two main groups. First, there are national banks. They are charted and supervised by the Federal Government. Secondly, there are state banks. They are charted and supervised by the state in which they are operated. All commercial banks can make loans to borrowers.

Major commercial banks in such cities as Tokyo, Paris, Rio cooperative with each other. In this way they finance imports and exports between countries.

An importer buys merchandise from another country using the currency of that country. For that purpose he buys this currency from the foreign exchange department of his bank. And in the same way if an exporter receives foreign money from sales to other countries, he sells this currency to his bank. By this method the currency of any country can usually be exchanged.