Grammar Exercises

Exercise l. Make the sentences negative.

Model: This bank was making loans to corporations during two months last year.

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

1. They were discussing the роssibility 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 liabilities and net worth two days before yesterday.

5. They were electing the new Boad 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.

Mоdel: 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 in this business for two years.

Lesson 8 Banks and business

Text

Banks are different in different countries. Let's speak about the banks in the United Slates 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 arc slate banks. They arc 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, Pans, 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	комерційний банк
national bank	національний банк
to charter	започатковувати, створювати
to supervise	завідувати, контролювати
state bank	державний банк
merchandise	товар
currency	валюта, гроші
foreign exchange department	відділ обміну валют
to exchange currency	обмінювати валюту