Letter 1.
Dear Sirs,
We (1)______ to inform you that terms of payment (2)______.
(3)_______ we discussed the proposed method of payment with our partners. We are pleased to confirm that this matter (4)______. Please, (5)______ that we did not pay the account in time. We (6)______ that our firm will pay the debt on the 5th of May at the latest.
Faithfully yours,
a. can assure you;
b. following your instructions;
c. are acceptable for us;
d. has been settled;
e. take this opportunity;
f. accept our apologies.
Letter 2.
Dear Sirs,
We authorized (1)______ in your country to sign an addendum to our contract providing for the change in (2)______. The above addendum (3)_______ on the 10th of June this year.
We (4)_____ us at the earliest convenience when the bank guarantee (5)______ and also let us have your consent to (6)______.
We are looking forward to your reply.
Faithfully yours,
a. will be submitted;
b. the original method of payment;
c. covering the storage expenses;
d. our trade representative;
e. was signed;
f. urge to advise.
Task 4. Choose the correct variant.
1. Logistics is mostly associated with the of goods from one place to another.
a) travel
b) transport
c) export
d) import
2. of real brands or genuine goods in China are facing a smaller challenge than you might expect.
a) merchandisers
b) dealers
c) sellers
d) buyers
3. Is the new hotel much than the old one.
a) the farthest
b) far
c) the farther
d) farther
4. Lately, Austin about changing his career because he dissatisfied with the conditions at his company.
a) has been thinking, has been
b) has thought, has been
c) thinks, is
d) was thinking, had been
5. Mr. Brown to give details of his bank account yesterday.
a) made
b) has made
c) was made
d) is being made
6. He asked her when she to take her vacation.
a) wants
b) would want
c) wanted
d) want
7. He master English if he studies hard.
a) will be able to
b) can not
c) shouldnt
d) may not
8. If we more money to spend, we would be more interested.
a) have
b) have had
c) had
d) had had
9.The protest wouldnt have been as affective, if it on the news.
a) didnt appear
b) appeared
c) hadnt appeared
d) wouldnt appear
10. They are very interested in our new products.
a) buy
b) to buy
c) bought
d) buying
LESSON 8
Task 1. Complete the text with the words in the box.
| 1. capital | 5. financing | 9. success | 13. finance | 17. money |
| 2. growth | 6. managing | 10. business | 14. funds | 18. arrangement |
| 3. expenses | 7. enterprises | 11. expand | 15. needs | 19. assets |
| 4. investment | 8. uses | 12. insurance | 16. production | 20. competition |
Financing a Company
Meeting the (1) of small and medium (2) is important for the development of a viable local private sector.
When going into business, (3) is one of the most important factors. Without sufficient funds a company cannot begin operations. The money needed to start and continue operating a business is known as (4). A new (5) needs capital not only for ongoing expenses but also for purchasing necessary (6). These assets - inventories, equipment, buildings, and property - represent an (7) of capital in the new business. Capital is also needed for salaries, credit extension to customers, advertising,
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(8), and many other day-to-day operations. In addition, (9) is essential for (10) and expansion of a company. Because of (11) in the market, capital needs to be invested in developing new product lines and (12) techniques and in acquiring assets for future expansion.
How this new company obtains and (13) money will, in large measure, determine its (14). The process of (15) this acquired capital is known as financial management. In general, (16) is securing and utilizing capital to start up, operate, and (17) a company. In financing business operations and expansion, a business uses both short-term and long-term capital. A company utilizes short-term capital to pay for salaries and office (18) that last a relatively short period of time. On the other hand, a company seek long-term financing to pay for new assets that are expected to last many years. When a company obtains capital from external sources, the financing can be either on a short-term or a long-term (19). Generally, short-term financing must be repaid in less than one year, while long-term financing can be repaid over a longer period of time.
Finance involves the securing of (20) for all phases of business operations. In attracting and using this capital, the decisions made by managers affect the overall financial success of a company.
