3. Match the terms from the text with their definitions:

1.single (adj) a) the fact that you have achieved sth that you want

2. success (n) b) work, especially when it is done to earn money

3. accrue (v) c) to belong to sb/sth legally

4. employment (n) d) the state of being legally responsible for sth

5. vest (v) e) only one

6. adjustment (n) f) to increase over a period of time

7. liability (n) g) a person who owns sth

8. owner (n) h) a small change made to sth in order to correct it

4. Fill in the gaps with the suitable terms from Ex. 3:

1. Overall authority is________in the Supreme Council.

2. The painting has now been returned to its rightful_________

3. The company cannot accept_______for any damage caused by natural disasters.

4. I've made a few_______to the design.

5. I could not understand a_______word she said.

6. The government is aiming at full_________

7. I didn't have much________in finding a job.

8. Interest will_________if you keep your money in a saving account.

5. Mark these statements т (true) or f (false) according to the text. Find the part of the text that gives the correct information:

1. In the one-person business all members of this firm provide capital and take the decisions.

2. A single person is solely responsible for the success or failure of the business.

3. The one-person business is less numerous than any other type of business organization.

4. Ownership and control are vested in several people who enjoy all the fruits of success.

5. The great advantage of the sole proprietor from an enterprise lies in the fact that the owner is personally liable for the debts.

6. Another advantage of this type of firm is the strict limitation of its ability to acquire capital for expansion.

7. Finance is restricted to the amounts which the entrepreneur is able to provide from the government's resources.

6. Use an appropriate word from the text to complete each of these sentences:

1. He or she is solely responsible for the success or _______ of the business.

2. The one-person business is still far more numerous than any other type of business organization, but in terms of total output ______ , value of capital employed, or value of total output, it is relatively unimportant compared with the _______ .

3. Ownership and control are vested in one person who enjoys all the fruits of success and________has a great________to run a firm efficiently.

4. The great disadvantage of the sole proprietor from an_______lies in the fact that the owner is________liable for the debts.

5. All his personal_______are at risk and may be seized to meet creditors'________in the event of the business becoming insolvent.

6. Finance is restricted to the amounts which the_______is able to provide from his own resources and whatever sums he can_______on his own security.

7. Complete these sentences with an appropriate preposition:

1. The sole proprietor is the simplest form __ business enterprise and often referred as the one-person business.

2. He or she is solely responsible the success or failure __ the business.

3. The one-person business is relatively unimportant compared __ the joint stock company.

4. The strength of this type of firms lies __ the direct personal interest __ the proprietor in the efficiency __ his enterprise.

5. Ownership and control is vested __ one person who enjoys all the fruits __success.

6. All his personal possessions are __ risk and may be seized to meet creditors' demands __ the event __the business becoming insolvent.

7. Finance is restricted the amounts which the entrepreneur is able to provide __ his own resources and whatever sums he can borrow __ his own security.