false say why:
1. Nearly 90 per cent of all business is done by corporations. 2. Because they involve so few people, sole proprietorships and partnerships are not true business organizations. 3. Corporations are better than any other organizational form. 4. There are no real advantages to any of the three main forms of business organizations. 5. Corporations have a lot of owners called stockholders. 6. They can buy and sell their shares without ending the business.
7. Stockholders dont have to pay a special tax on profits. 8. Stockholders must pay corporate income tax. 9. You have to hire a lawyer to organize a corporation. 10. Corporations have great capacity for growth and expansion.
VII. Answer the following questions:
1. Is nearly 90 per cent of all business done by corporations? 2. What is a corporation? 3. What is necessary to form a corporation? 4. What does the charter state? 5. Does it specify the number of shares of stock? 6. What may a corporation issue? 7. What does a dividend represent? 8. What is the major advantage of the corporate form of ownership? 9. Do corporations have great capacity for growth and expansion? 10. What disadvantages do corporations face? 11. There is also an extra tax on corporate profits, isnt there?
VIII. Translate into English:
1. i , . 2. , i, i , i -.
3. i . 4. i , i i. 5. i , . 6. i .
IX. Replace the Ukrainian words and phrases by suitable English
equivalents in the correct form. Retell the passage:
() is a company chartered by () and owned by stockholders. () are represented by ( ), and ( ) for company actions and () only up to the amount each stockholder (). This feature is called ( ). ()of the corporation is that it is relatively easy to raise ( ). Transferring () is also easy, since it frequently means only ( ).
() are that corporations are subject to special ( ), and that individual stockholders may have a rather limited say in company operations.
X. Memorise the following proverbs with the word business.
Translate them into Ukrainian:
1. Everybodys business is nobodys business.
2. Every man to his business.
3. Business before pleasure.
COMMUNICATIVE SITUATIONS
1. Make a report in your class: Sole proprietorship is the most common form of business ownership.
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2. You would like to open your own business. What type of business organizations would you prefer? (sole proprietorship, partnership or corporation)? Explain your choice.
3. You want to go into business with a partner. Consult a lawyer how to form a partnership.
4. You are at the conference. The theme of your report is: Advantages and disadvantages of the corporate form of ownership.
5. Discuss with your friends advantages and disadvantages of the three forms of business ownership. Use the table given below:
| Form of ownership | Advantages | Disadvantages |
| Sole proprietorship | 1. Retention of all profits. 2. Ease of formation & dissolution. 3. Freedom & flexibility of management. 4. Secrecy of operation. | 1. Unlimited financial liability. 2. Limited financial resources. 3. Management deficiencies. 4. Lack of continuity. |
| Partnership | 1. Ease of formation. 2. Complementary management technical skills. 3. Greater financial resources. 4. Employee incentive. | 1. Unlimited financial liability. 2. Disagreements among partners. 3. Lack of continuity. 4. Complexity of dissolution. |
| Corporation | 1. Limited financial liability. 2. Specialized management skills. 3. Great financial capability. 4. Unlimited life span. 5. Ownership easily transferred. 6. Capacity for growth. | 1. Difficult & costly to establish. 2. Lack of personal interest by management. 3. Legal restrictions & government regulations. 4. Lack of secrecy in operation. |
GRAMMAR EXERCISES
