Answer the following questions:

1. what are three different ways that a business can be privately owned?

2. What forms do most European countries have?

3. Name some businesses that are likely to be sole proprietorships. Why do you think so?

4. What is the difference between general partnership and partnership?

5. In what professional fields are the partnerships found?

6. In what businesses is the partnership a common form?

7. What are the advantages of the partnership?

8. What are its disadvantages?

9. Who can own a corporation?

10.What are the advantages of the corporate form of ownership?

11.What kindsof corporations don't issue the stock usually?

12.What world-known corporations do you know?

Вариант II

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Accounting

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

2. Book-keeping is a procedural element of accounting as arithmetic is a procedural element of mathematics. Most of the material in this book discribes business situation, but the principles of accounting apply to financial consideration of Individuals as well. Most businesses prepare regulary the two types of records. That is income statement and balance sheet. These statements show how money was received end spent by the company.

3. One major tool for the analyeis of accounting records ie ratio analysis. A ratio analysis is the relationship of two figures. In finance we operate with three main categories of ratios. One ratio is with profitability, for example, the Heturn Investment Ratio. It is used as a measure of a firm's 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. It analyses the value of the ownership of the firm.

4.There is a general classification of accounting.public accounting and private accounting. Private accountants are those who serve the general public and collect professional fees for their work, much аs doctors and lawyers do. Their work includes auditing, tome tax, planning and preparations and management consulting.

Public accountants are a small fraction (about 10 %) of all accountants. Those public accountants who have aet certain professional requiremente are designated as Certified Public Accountants (CPA).

5.Private accountants work for a single business, such es a local department store or the Mc Donald's restaurant chain. Charitable mizationa, educational institutions and government agencies also employ private accountants. The chief accounting officer usually has the title of controller or treasurer. This person usually fLes the status of Vice-President.