B) Complete the following sentences with the correct verb or noun from the list above

1. The sole proprietor can....... for himself if he wants to form a new business.

2. The.......can keep all the profits of the business.

3. The proprietor made a.........to purchase some new.........

4. The sole proprietorship, partnership, and corporation........in the manner in which they raise capital.

5. If the owner makes the wrong decision, it may.........the business.

6. The proprietor does not wish to........his enterprise, because he was unsuccessful and he doesn’t

get any........ from his efforts.

7. It takes capital to purchase inventory and.......the workshop with the necessary tools.

8. We try to........the customers so that they will........to shop here.

 

Exercise 5

Match the expressions to their definitions or synonyms on the right.

 

1. to comply with 2. sole proprietorship 3. to purchase 4. assets 5. is entitled 6. to carry out 7. enterprise

a. to follow b. one-owner business c. to buy d. things of value to a business e. is allowed by law f. to fulfill g. business

 

Exercise 6

Match two columns to make word-combinations and translate them:

1. business 2. government 3. legal 4. personal 5. corporate 6. legal

a. entity b. wealth c. regulations d. agencies e. profits f. agreement

 

Exercise 7

Complete the sentences in the most suitable way.

1. A partner is...

a) any person who signs any kind of legal document

b) a person or group of people who take part in a legal agreement or dispute.

c) one of two or more people who runs a business.

2. The investor of the public company has a right to sell the shares belonging to him....

a) only with the permission of the Board of Directors.

b) without the consent of other shareholders of the company.

c) only to the shareholders of the same company.

3. A sole/ individual proprietor is...

a) the managing director of the company.

b) an individual doing business on his own behalf.

c) a hired person in charge of the operation of the company.

 

Exercise 8

Replace the words in italics with expressions from the text which have the same meaning.

1. The sole proprietor may keep all the profits derived from his business.

2. A sole proprietorship is the easiest to initiate and the easiest to terminate.

3. The joint owners owe all the liabilities and pay personal income taxes on their part of the profits.

4. In the case of business failure, the responsibility of the corporation for its debts is limited.

5. The board of directors keeps part of the profits to increase the capital of the

corporation.

6. The stockholders pay personal income taxes on their profits from stock.

7. The activities of the corporation are closely watched by the government.

 

Exercise 9