1. The person operating a owns the business in his or her own name.
2. Formed by two or more persons, the is considered a business entity. Each partner is responsible for the .
3. All personal of each partner are at risk if the business fails.
4. receive dividends in proportion to the capital they invest.
5. Being a she works long hours in her hairdressing business.
6. The partnership collapsed as a result of the criminal activities of one of the .
7. He has in British Gas.
8. He is a man of great .
9. The of going to school is to learn.
10. He works as a computer operator at the New York .
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Ex.10. Fill in the missing prepositions.
The limited liability company provides a framework which a business can operate effectively. A limited company is usually the best vehicle business. Shareholders inject capital and receive a return proportion to the capital they invest. They are eligible to attend an annual general meeting approve or otherwise the way the directors are running the business. Annual general meetings also determine how much the profit will be distributed shareholders.
Control the company is the hands of directors who are appointed the shareholders to run the company their behalf.
(on, by, of-2, to-2, in-2, for, within)
Ex.11. These words are often confused:
to offer to suggest
| to offer | to propose something, express willingness to do something |
| e.g. He offered me a job. | |
| to suggest | to propose something to do, to offer an idea or a plan for consideration |
| e.g. 1. We suggest contacting the manufacturer directly. 2. I suggest we have dinner first. 3. He suggested various ways in which the service could be improved. |
Complete these sentences using the correct form of one of the words above. Make your own sentences to show that you understand the difference in their meaning.
1. I a new plan.
2. I to take my friend to dinner.
3. They fresh investments in our business.
4. He that we have lunch at the hotel.
5. She me a cigarette every time I see her.
6. They him a job last week.
7. He I look through the documents once more.
8. Our company different services to our customers.
9. My friend that we join our small firms.
10. His company just its shares to the public.
11. He going to the stock exchange.
12. I you buy more shares of this company.
Exercises in Comprehension
Ex.1. Answer the following questions:
1. Are all businesses owned and organized in the same way?
2. What is the simplest form of business ownership?
3. What are the owners liable for in unlimited liability companies?
4. What are the owners liable for in a limited liability company?
5. What are unlimited liability companies subdivided into?
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6. What is a partnership?
7. What are limited liability companies subdivided into?
8. What is a private limited company?
9. What is a public limited company?
10. Is a public limited company privately or state-owned?
Ex.2. What is the difference between:
an unlimited liability company a limited liability company;
sole proprietorship partnership;
a private limited company a public limited company.
Ex.3.Sum up what the text says about:
s unlimited liability companies and limited liability companies,
s sole traders,
s partnerships,
s private limited companies,
s public limited companies.
Grammar Revision
| Present Perfect Simple We use the Present Perfect Simple: s for the action or situation which is finished We have painted the whole house. s for recent actions or events in the past that have a result in the present You have broken the window! s for actions or situations that began in the past and continue in the present Windsor Castle has been a royal residence since the 11th century. Time words or expressions which are often used with the Present Perfect Simple: for, since, just, already, yet, this morning (week), in the last few days, recently, lately/of late, never, ever, so far. |
Ex.1. Look at the expressions in the box:
