Ex. 19. Match the words with their definitions

_____ partnership a. going into business for oneself
_____ sole proprietorship b. a company whose owners enjoy limited liability for the company's debts and losses
_____ corporation c. a limited company that does not issue shares for general public
_____ limited company d. a place where shares are regularly traded
_____ public company e. two or more partners working together for profit, without limited liability
_____ private company f. limited company whose shares may be purchased by the public and traded freely on the open market
_____ shareholder g. any of the equal parts into which the capital stock of a company is divided
_____ a share h. the share of a cooperative society's surplus allocated at the end of a period to members
_____ assets i. the owner of one or more shares in a company
_____ dividend j. any property owned by a person or firm
_____ charter k. the state, condition, or quality of being or becoming bankrupt
_____ Stock Exchange l. organization operating to make profit
_____ bankruptcy m. the fundamental principles of an organization;

Ex. 20. Generate other forms from these words.

to imagine
to refer
to agree
to specify
to pay
to profit

Ex. 21. Find in the texts equivalents to the following Russian words and word-combinations.

1. торгово-промышленная корпорация ________________________________________

2. совет директоров ________________________________________________________

3. обанкротиться __________________________________________________________

4. прекратить существование ________________________________________________

5. личное имущество _______________________________________________________

6. привлекать финансовые ресурсы ___________________________________________

7. учреждать корпорацию ___________________________________________________

8. подоходный налог _______________________________________________________

9. управлять корпорацией напрямую __________________________________________

10. являться объектом налогообложения _______________________________________

Ex. 22. Fill in the gaps with the words and word combination from the box.

shares, agreement, liability, to dissolve,general, rights and obligations, shareholder, public, Stock Exchange, entity,liquidation, private, to establish, additional capital

1. Partnerships are created by an__________________, oral or written, which expresses the

_______________________________of each partner.

2. It is also easier for partnerships to obtain ________________________________.

3. Partnerships are not as easy _____________________ as sole proprietorships.

4. Partnerships are a stronger ______________ than proprietorships.

5. If it is a public limited company, ______________can be bought and sold freely, usually at


6. When the owners of the partnership have unlimited________________ they are called

___________________ partners.

7. A limited company may be ______________ or ________________.

8. If the company fails, it will stop trading and go into _____________________.

9. A person who owns a stock certificate is called a _____________________.

10. It is more expensive and complicated __________________corporations than proprietorships

or partnerships.