A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose.
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Not all businesses are owned and organized in the same way.
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In unlimited liability companies the owners are personally and entirely liable for the debts of the company.
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This means they may lose their personal assets (e.g. their house or their car) if the company is in financial difficulties.
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In a limited liability company (LTD) the owners are liable only for the amount of money they have invested in the business.
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Unlimited liability companies are subdivides into sole traders (BrE)/sole proprietorship (AmE)(a type of business organization owned and run by two person)and partnership (BrE)/general partnerships (a firm ran by two or more partners).
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A lot of professional people like lawyers, accountants and so on, work in partnerships.
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Limited liability companies are subdivided into private limited companies / limited liability companies and public limited companies / listed companies.
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A private limited company / limited liability company is a company which has shareholders (people who own the wealth of a company)but which cannot offer its shares to the public.
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A public limited company / listed company is a company whose shares can be bought and sold (publicly traded) on the stock exchange.
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Ex.1 p.31 Answer the following questions:
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1.Not all businesses are owned and organized in the same way.
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3.In unlimited liability companies the owners are personally and entirely liable for the debts of the company.
4..In a limited liability company (LTD) the owners are liable only for the amount of money they have invested in the business.
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5.Unlimited liability companies are subdivides into sole traders (BrE)/sole proprietorship (AmE)(a type of business organization owned and run by two person)and partnership (BrE)/general partnerships (a firm ran by two or more partners).
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7.Limited liability companies are subdivided into private limited companies / limited liability companies and public limited companies / listed companies.
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8.A private limited company / limited liability company is a company which has shareholders (people who own the wealth of a company)but which cannot offer its shares to the public.
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9.A public limited company / listed company is a company whose shares can be bought and sold (publicly traded) on the stock exchange.
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p.33 Ex.2 Choose the corrected variant:
1.He has published a new book twice already.
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2.I never have been to Italy, but I went to England last May.
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3.I have sent them an E-mail this week.
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4. Have you registed your ticket yet?
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5.The plane from Paris landed an hour ago.
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6.How many schools have you studied in?
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7.The shop never has made any money.
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8. Has it stopped snowing yet?
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9.He has in his office since early morning.
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10.Mary called her employer yesterday.
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11. I have answered three letters so far.
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12.She has been away on business since last Monday.
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