Indebtedness, down payment, currency, deposit, purchases, charge, statement, certified copy, price, to finance

1. Those goods that a business buys with the intention of selling by way of trade, not goods bought for use by business.

2. The rate at which a commodity can be exchanged for another commodity or for money.

3. To provide or arrange means of payment.

4. A sum owed; debts in general.

5. Money or its equivalent deposited with a person or organization, especially a bank, for safe-keeping, or as security, or to bear interest.

6. Immediate payment; the first payment under a mortgage or hire-purchase agreement.

7. Any kind of money that is in general used as cash; any generally accepted means of payment.

8. A loose-leaf sheet supplied by a bank to each customer, giving details of all debits and credits made.

9. A copy of document which has on it a formal declaration signed by an official that is true copy.

10. A sum of money that has to be paid as a price, especially for services.

Ex. IV Supply the sentences with the missing words.

payments, user, customer, price, statement, amount, attorney, advantage, non-payment, accomplish

1. She explained the … of the new system over the old one.

2. The early computer … had to learn to speak the language of the computer.

3. We estimate, month by month, the … of cash that will be needed.

4. Was the … of rent to be optional?

5. He later became a prominent … .

6. How were they able to … so much so quickly?

7. There were two … in the shop at the moment I came.

8. I get a bank … at the start of every month.

9. Oil … are stable for the first time in years.

10. He was in prison for … of fines.

Ex. V In each of the following, select the word or phrase that best completes the statement or answers the question.

1. If after six month a business shows no profit, it will probably

a. fail c. require a partner

b. succeed d. sell a profit

2. Long-term credit is usually used for

a. supplies c. new equipment

b. payroll cash d. inventory

3. The ability to pay back a loan is called the creditor’s

a. character c. capital

b. capacity d. conditions

4. One of the advantages of a business selling goods on credit is a (an)

a. increase in working capital c. decrease in steady customers

b. increase in operating costs d. increase in sales volume

5. One of the disadvantages of a business selling goods on credit is a (an)

a. increase in operating costs c. increase in sales volume

b. decrease in working capital d. increase in steady customers

6. A customer buying a dining-room set would most likely use which one of the following types of credit?

a. charge account c. installment sales account

b. open account d. cash

7. One of the most popular forms of installment credit is the

a. bank account c. open account

b. revolving account d. charge account

8. The first step in collecting from credit customers is to

a. inform them the amount due c. take legal action

b. close the account d. repossess the product

9. Credit is sometimes extended to a business by a supplier in the form of

a. credit c. a bank note

b. cash d. all of these

10. The ability of a business to buy goods and services when needed with a promise to pay later for the goods and services is called

a. capacity c. capital

b. credit d. income

11. Which of the following services is not provided by a bank?

a. loans c. assessments

b. saving accounts d. protection against bankruptcy

Ex. VI Answer the following questions.

1. What are the main types of credit?

2. What is the difference between trade credit and consumer credit?

3. What are the basic types of consumer credit accounts?

4. How does a revolving account work?

5. Is an installment account different from a revolving account? How?

6. When would you recommend use of a budget account?

7. What is recommended to handle delinquent accounts?

8. How would you explain the statement “The world operates on credit”?

9. What are the advantages to small firm owners of selling on customers’ credit cards? What are the disadvantages?

10. Do you believe the statement that “a firm will sell more merchandise, even to its present customers, if credit accounts are made available”? How do you explain this?

11. What kind of policy do would you establish to handle delinquent accounts? Why?

Ex. VII Make up a plan of the text

Ex. VIII Write a summary of the text.

Ex. IX Express in writing your vision of the role of selling on credit nowadays and its prospects.

№ 2 (4 hours)

БУАиА

Тема: “Accounting”

Цель: Совершенствование навыков изучающего чтения (с извлечением полной фактической информации, содержащейся в тексте).

а) формирование навыков самостоятельной работы с лексикой; расширение лексического запаса по теме;

б) совершенствование навыков работы со словарями разного вида и навыков перевода специальных текстов;

в) развитие умений выделять смысловые опоры в тексте, отбирать и группировать информацию и факты по проблемам, составлять план прочитанного.

г) совершенствование навыков перевода.

Вид работы: работа с текстом: