PEChAT

Choose the appropriate form of business organisation from the list.

A partnership is an association of two or more persons to carry on a business for profit.

When the owners of a partnership have unlimited liability, they are called general partners. There may be a silent partner as well - a person who is known to the public as a member of the firm but without an authority in management. To be a sole trader is the simplest way of starting a business The key factor in owning any company is the guarantee called limited liability: the owners of a company never have to pay more than they have invested in the company. A public company is that large enough to have its shares traded on stock exchanges The owners of the corporation are called shareholders or stockholders Organizations with 'social' aims such as helping those who are sick or poor, or encouraging artistic activity, are non-profit organisation.

The secret partner is a person who takes part in management but who is not known to the public.

Choose the appropriate word(s) from the list to complete the sentence People who run a business together and share the profits are usually considered partners, even if they do not intend to be. Any disagreement that arises among them is decided by the majority vote. Partnerships are more advantageous than sole proprietorships if one needs multiply sources of capital. Partnerships often receive favored treatment by the government as well as tax benefits. A person who wishes to leave the business can agree with the other partners on a price for buying him out. A partner can contribute important services or skills, sometimes just a name or a reputation.

Match the terms.

primary work = line work secondary work = staff work

Give the correct form of business organisation to match the definition. a firm, usually without commercial activity, created to be parent to other companies --- Holding company a friendly association of people; for example, interested in sports --- Society a firm owned by a parent company --- Subsidiary/affiliate an organization to relieve poverty, advance religion or education, etc; benefits from some financial concessions --- Charity

two or more partners working together for profit, without limited liability --- Partnership an organization operating in several countries --- Multinational a company whose shares are publicly available --- Public company a new commercial activity --- Enterprise a firm where shareholders’ liability is limited --- Limited company an organization which is part of the state administration --- Government agency a company whose shares are not publicly available --- Private company a company which owns another --- Parent company company owned by the state --- Nationali*ed company company in which another firm has less than a 50% interest --- Minority interest a firm based in a tax haven to avoid higher taxation --- Offshore company

Complete the phrase/sentence with the correct preposition. If you do not need any preposition type “-“ Power is the ability to influence – others successfully Service companies perform services for a fee. Merchandising companies purchase goods that are ready for sale. Manufacturing companies buy materials and convert them into prod­ucts They are 'in business for themselves' to carry on a business for profit

to agree upon/on another arrangement It depends on/upon how much money or property each contributes to be liable for any debts acquired by the business chief requirements for success to enhance individual efforts aimed at goal ac­complishment

Translate from Russian into English сложности могут возникнуть --complications can arise индивидуальные усилия не достигают успеха -- individual efforts often fell short of success иметь власть над другими -- have power over others иметь полномочия (власть) -- to possess author­ity нести ответственность -- to carry out his responsibility наделять соответствующей ответственностью и полномочиями -- be granted appropriate responsibility and authority иерархическая модель полномочий, ответственности и подотчетности взаимоотношений -- the hierarchical pattern of authority, responsibility#$# and accountability rela­tionships подчеркнуть рисковую природу бизнеса -- to emphasize its risk-taking nature

Все партнеры ответственны за любые долги приобретенные бизнесом. -- All partners are liable for any debts acquired by the business#$# принимать участие в управлении -- take part in management

быть неизвестным народу -- is not known to the public преумножить источники капитала или диверсифицировать менеджмент -- multiply sources of capital or diversified management

благоприятное отношение правительства, а также налоговые льготы -- favored treatment by the government as well as tax benefits принимать большинством голосов -- decided by the majority vote долги обычно выплачиваются их фондов или собственности -- debts are normally paid out of funds or property обанкротится -- to go bankrupt

потерять первоначальные инвестиции -- losing their initial investment#$#

акционерный капитал -- equity capital

провести четкое различие -- make a clear distinction компании, акции которых не торгуются на бирже -- unquoted companies акции недоступны для населения -- shares are not available to the general public действовать от имени и/или по поручению -- to act on its behalf