Grammar focus
4. Complete the sentences with one of the following: much many few little fewer less
... people realize how ... tax they could avoid paying if they studied the tax laws.
... people believe they pay too ... tax.
There is too ... time and too ... problems to talk about irrelevant issues.
There isn't ... evidence to support these figures.
You'll pay much ... tax in the Cayman Islands than most places.
Very ... tax authorities have clear plans for corporation tax in the future.
There are ... opportunities to avoid tax nowadays.
... companies operate the FIFO method nowadays.
5. Complete the following sentences with one of the following prepositions: during, since, over, at, for, in, ago.
...the last few months, sales have been disappointing.
We have been expecting an upturn ... the beginning of the last year.
... the end of last year, there was a sudden down turn.
He was appointed finance director two years ... and ... then he has reduced the staff by 200.
We went through a difficult period ... the middle of April.
We have raised prices in line with inflation ... three years.
The dips of the price index happened ... April and July.
6. Change the following sentences from active to passive or vice versa.
The profit and loss account summarizes the profitability of the company.
This company pays £1.8 million in tax.
The preference shareholders received a fixed dividend of £50,000.
Earnings of £11.5 million are retained by the company.
The accountants calculate the taxable profit.
Considerable costs have been incurred by investing in property.
We will maximize our profits by deferring taxation
Savings would have been made by reducing production capacity.
Discussion
How would you explain the statement "The world operates on credit"?
What kind of policy would you establish to handle delinquent accounts'? Why?