Search the text to find nouns for other passive forms.

 

Exercise II. Special usage reference. Read each point explanations, and then find the words in the text to see how they are used.

 

1) business – enterprise –business venture

business – organization; company; commercial, industrial or professional activity; - компания; дело;

enterprise – a company; business undertaking - предприятие

business venture – a business enterprise where there is certain risk in getting profit - деловое предприятие

 

Practise:

A sole proprietorship is a ……. or an …….., but not a company. A partnership can be considered a kind of a …….., it can also be a firm. A corporation is related to as ……... All of organizations are ………, either big or small.

 

2) conduct a business / run a business / manage a business = вести дела, руководить предприятием.

These collocations can be interchangeable. They mean:

- to control the course of business activity; carry on - conduct

- to control, maintain, arrange a business - run

- to direct business affairs, arrange and control - manage

 

Choose the best verb for the following statements. Variants are possible here:

1. Sole proprietor can ……. any small business.
2. In a limited partnership general partners ……. the business and limited partners don’t ……… any business activity.
3. Shareholders elect directors to ……. the company.
4. Both general partners …….. their business.

 

Exercise III. Verb + preposition

Find the answers to the questions. Mind the use of prepositions.

 

Who is a partnership established by?

What does a sole proprietor apply for?

What is a share of partnership profit based on?

What is the shareholders’ liability limited to?

What do shareholders pay their income tax on?

Where does a partnership register the business name with?

 

Exercise IV. Find English equivalents to the following words and phrases:

 

1. распустить товарищество	a) based on the percentage of ownership
2. нести ответственность за долги	b) perform business functions
3. рисковать своими вкладами	c) formal partnership agreement
4. налог на доходы	d) be liable for debts
5. разрешение на ведение бизнеса	e) government regulation
6. избирать	f) elect;
7. выносить основные решения	g) liability limited in proportion to the investments
8 исходя из того, каков процент доли владения	h) income tax
9. согласно договору	i) employ
10. выполнять деловые функции	j) make major decisions
11. официальный договор о (создании) товарищества	k) dissolve the partnership
12.нанимать на работу	l) a business permit
13. созданное по предоставлению правомочий на основании закона (статута)	m) subject to double taxation
14. государственное регулирование	n) acquire assets
15. статус юридического лица отдельного от владельцев	o) foresee potential conflicts
16. предвидеть возможные конфликты	p) risk one’s investments
17. приобретать активы	q) created by statutory authorization
18. ответственность, ограниченная пропорционально вложенной доле	r) according to the agreement
19. подлежать двойному налогообложению	s) status of a legal entity apart from its owners

 

Exercise V. Complete the sentences checking with the texts A-F to find the right words or phrases:

1. A sole proprietorship is ……… to start but ……… to run.
2. In a sole proprietorship there is little … …….
3. The proprietor is responsible for … …… but is liable for … ……
4. The sole owner has complete …… of business but has ….. ….
5. A partnership exists when two or more partners …… …… to run a business
6. Under general partnership, each partner is liable for all …… … …..
7. Partners’ profits are taxed as …… based on their …… of ……..
8. A general partner in a limited partnership has…………... and ….. …….. in some aspects of the partnership.
9. Profits in a limited partnership are shared …………….
10. ……………. liability is unlimited and limited partner’s liability is ………….
11. A corporation consists of …, … and ……..
12. The liability of shareholders is limited to ……………
13. The corporation is subject to …… ………. and to …….. ……..
14. An LLC combines selected ……………. and ………. characteristics, and has the status of a … ….. apart from … ………….

 

Exercise VI. Decide if the following statements are True or False.

A limited partner in a limited partnership performs business functions.

Sole proprietorship is subject to a considerable government regulation.

A sole proprietor has to apply for a business permit.

Corporations are created by statutory authorization.

Profits of sole owners are taxed as income to the owner.

As a separate entity general partnership can acquire assets, incur liabilities and conduct business.

A formal partnership agreement is necessary because conflicts that may arise between partners can be foreseen.

Both general and limited partner can decide to dissolve the partnership.