Grammar Exercises

Exercise 1. Make the sentences negative.

M o d e l: This bank was making loans to corporations during two months last year.

This bank wasn't making loans to corporations during two months last year.

1. They were discussing the possibility of the purchase of inventory from 5 till 6 p.m. yesterday.

2. He was running the corporation during two months.

3. During our last classes the lecturer was speaking about equity funding.

4. Our accountant was calculating assets and liabilities and net worth two days before yesterday.

5. They were electing the new Board of Directors for two hours at their annual meeting.

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

M o d e l: The company was doing extremely well when he was the manager.

1. Was the company doing extremely well when he was the manager?

2. When was the company doing extremely well?

3. The company was doing extremely well when he was the manager, wasn't it?

4. Was the company doing well or badly when he was the manager of the company?

1. I was examining the Annual Report when Mr. Stevenson called on me.

2. She was making a profit on the sale of the goods till she could get them.

3. He was holding a position of a stockbroker when I met him last year.

4. The shop was attracting many customers, when it was supplied by famous companies.

5. They were investing money for two years.

L e s s o n 8 banks and business

Text

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 chartered and supervised by the Federal Government. Secondly, there are state banks. They are chartered 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 cooperate 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.

Active Vocabulary

commercial bank коммерческий банк

national bank национальный банк

to charter учреждать, создавать

to supervise заведовать, контролировать

state bank государственный банк

merchandise товары

currency валюта, деньги

foreign exchange department отдел обмена валюты

to exchange currency обменивать валюту

Comprehension Questions

1. What do all commercial banks do?

2. What kind of commercial banks in the USA do you know?

How are they called?

3. Who supervises the operations of national bank?

4. What kind of currency does an importer generally use when he buys goods from another country?

5. What do you know about the "international exchange"?

6. How is the currency of this country called?

7. What is the exchange rate between your currency and the currency of the USA and Germany? How can you find it out if you don't know it?