- •V (verb) – глагол phr (phrase) – фраза
- •I. Text the nature of business
- •Input → transformation → output
- •I. Business n – uncountable
- •II. Business (businesses) n – countable
- •III. Business n – singular
- •Vocabulary
- •II. Comprehension exercises
- •III. Vocabulary practice exercises
- •IV. Brush up your grammar
- •All Tenses Compared Все времена в сравнении
- •V. Speech practice exercises
- •Vocabulary notes
- •I. Text the economic foundations of business
- •Image of a global village.”
- •Economic Systems
- •Economic Forces Affecting Business
- •Vocabulary
- •II. Comprehension exersices
- •3. Check your progress:
- •III. Vocabulary practice exercises
- •IV. Brush up your grammar
- •Passive Voice Страдательный залог
- •V. Speech practice exercises
- •The Pope and the Price of Fish
- •Vocabulary notes
- •I. Text economic entity assumption
- •Sole Proprietorships
- •Partnerships
- •Corporations
- •Vocabulary
- •II. Comprehension exercises
- •3. Review Questions
- •III. Vocabulary practice exercises
- •5. Make and Do
- •IV. Brush up your grammar
- •The Present Perfect Continuous Tense
- •Contractions
- •V. Speech practice exercises
- •Vocabulary notes
- •Vocabulary notes
- •Vocabulary notes
- •I. Text accounting
- •А. The Nature of Accounting
- •В. Accounting and Bookkeeping
- •С. Accounting Professionals
- •Vocabulary
- •II. Comprehension exercises
- •2. Review questions
- •III. Vocabulary practice exercises
- •The Accounting Cycle
- •IV. Brush up your grammar
- •The Infinitive
- •Функции инфинитива
- •V. Speech practice exercises
- •I. Text financial statements
- •А. Balance Sheet
- •Vocabulary
- •В. Income Statement
- •Vocabulary
- •С. Statement of Cash Flows
- •Vocabulary
- •II. Comprehension exercises
- •III. Vocabulary practice exercises
- •IV. Brush up your grammar
- •The Modals and their Equivalents
- •V. Speech practice exercises
- •Vocabulary notes
- •I. Text managing financial resources
- •A. Financing the Enterprise
- •B. The Responsibilities of Financial Managers
- •Vocabulary
- •II. Comprehension exercises
- •3. Review Questions.
- •III. Vocabulary practice exercises
- •3. Borrowing and Lending
- •IV. Brush up your grammar
- •Conditional Sentences
- •V. Speech practice exercises
- •Characteristics and Functions of Money
- •Vocabulary notes
- •Vocabulary notes
- •I text banking institutions
- •Modern Banking Institutions
- •Commercial Banks
- •Vocabulary
- •II. Comprehension exercises
- •2. Review Questions
- •III. Vocabulary practice exercises
- •Banking in the Digital Age
- •IV. Brush up your grammar
- •The Sequence of Tenses Reported Speech
- •С правилом согласования времён direct speech reported speech
- •I / we à he (she) / they tomorrow à the next day
- •V. Speech practice exercises
- •Vocabulary notes
- •Библиографический список
- •Оглавление
- •6 80021, Г. Хабаровск, ул. Серышева, 47.
II. Comprehension exercises
1. Review Questions
A Balance Sheet
1. What does the balance sheet show? Identify its three main sections.
2. What do businesses’ assets consist of? Differentiate between current
assets and fixed assets
3. Give the definition of liquidity
4. Characterize the liabilities section of the balance sheet.
5. What is owners’ equity? What does it include?
7. Explain the basic accounting equation. What does it show?
8. What is the purpose of double-entry bookkeeping?
9. Why do we call a balance sheet a snapshot?
10. What information about the company one can get by reading its balance
sheet?
B Income Statement
1. What does the income statement show? Why do we compare it with a
movie?
2. What does the income statement summarize?
3. What is the bottom line? What does this figure show?
4. Give definitions of gross sales, net sales, and the cost of goods sold.
5. Differentiate between selling and general expenses.
6. How is net income or loss computed?
7. What information about the company one can get by reviewing its income
statement?
8. Why should revenue be greater than expenditure?
C Statement of Cash Flows
1. What does the statement of cash flows show? Give examples of its
alternative names.
2. What is the difference between the balance sheet and the statement of
cash flows in relation to cash?
3. Characterize cash and its equivalents. What do sources of cash include?
4. Explain the applications of cash funds.
5. Identify three areas in which a company’s cash flows.
2. Complete the statements:
1. The balance sheet is also known as
the operating statement
the statement of financial position
the statement of changes in financial position
2. The balance sheet shows
how profitable the organization has been over one year
how a company’s cash was received and spent
the financial situation of the company on a particular date
3. Current assets include
marketable securities, accounts receivable, and inventory
intangible assets, such as “goodwill”, patents, and trademarks
share capital and retained earnings
4. Buildings, equipment, and furniture would all be examples of
current assets
fixed assets
liabilities
5. Patents, copyrights, trademarks, and goodwill are all examples of
current assets
fixed assets
liabilities
6. Fixed assets have a useful life of
a. one year
b. less than one year
c. more than one year
7. The level of ease with which an asset can be converted into cash is called
a. mobility
b. flexibility
c. liquidity
8. Current liabilities include
share capital and the company’s reserves
accounts payable, notes payable, and accrued expenses
long-term notes
9. The accounting equation can be expressed as follows:
liabilities equal assets plus owners’ equity
assets equal liabilities plus owners’ equity
assets plus owners’ equity equal profits
10. To keep the accounting equation in balance, companies use
the help of forensic accountants
b. single-entry bookkeeping
c. double-entry bookkeeping
11. If a firm has assets of $500,000 and liabilities of $200,000, then the
owners’ equity must be
$700,000
$300,000
$500,000
12. If a firm has liabilities of $400.000 and owners’ equity of $300,000, then
the assets must be
$400,000
$100,000
$700,000
13. If a firm has assets of $800,000 and owners’ equity is$600,000, then its
liabilities must be
$1,400,000
$600,000
$200,000
14. A change on one side of the balance sheet means
a. change on the other side of the balance sheet
b. no other changes
c. changes elsewhere
15. The income statement is a financial report that shows
a. an organization’s profitability over a period of time, typically one
year
b. an organization’s financial position on a particular date, like
December 31, 2010
c. how the company’s cash changed from the beginning of the
accounting period to the end
16. The actual profit or loss of a company after expenses and taxes have
been subtracted from revenues is called
a. net value
b. net sales
c. net income
17. The statement of cash flow shows
a. the flow of cash in and out of the business between income
statement dates
b. the flow of cash in and out of the business between balance
sheet dates
c. an excess of income over expenditure