Task 2. Match each of the words or phrases on the left to an appropriate definition

1. Capital a) Financing that uses inventory such as raw materials, products as collateral for a loan. Inventory is (1) the sum of tangible property held sale, in production, or held for use in the production of goods or services to be sold (2) stock
2. Capitalization b) Money charged by the government or an official body to pay for services and to finance different state program(me)s
3.Capital budget c) Financial operation of exchange of goods or services for money
4. Cash budget d) Value of a company based on its total share value
5. Operating budget e) A prediction of cash inflows and outflows in future periods
6. Master budget f) The spending plan for assets whose returns are expected to occur over an expended period of time (more than 1 year)
7. Financial control g) The projection of national currency allocations to various costs and expenses needed to run or operate the company, given projected revenue
8. Cash-flow forecast h) People or firms that do not pay. Debts which will not be paid
9. Inventory financing i) Financially stable, strong company
10. Bad debts j) The financial plan that summarizes the operating, capital, and cash budgets
11. Sound company k) A process that periodically compares the actual revenue, costs, and expenses with projections
12. Tax l) The projected cash balance at the end of a given period (e.g. monthly, quarterly)
13. Transaction m) Money, property and assets used in a business

Task 3. Fill in the blanks using the word combinations given below, translate the letter.

Letter 1.

Dear Sirs,

I saw your advertisement for a (1)_______ in to day’s “New Day”. I (2)_______ in this job and I have many of (3)________ . I studied Economics and foreign languages at Odessa State Economic University. I (4)________ in Ukrainian, English and French, please, (5)_______ if you need some more information I (6)_______ to hearing from you soon.

Truly Yours,

a) necessary qualifications

b) am fluent

c) let me know

d) am looking forward

e) a post of an economist

f) am interested.

Letter 2.

Dear Sirs,

Thank you for you letter of 25 March this year in which you (1)________ in our department. We (2)________ from banks with experience. Would you, please, (3)________ and send it to our Personnel Department at the above address. We (4)_______ if it is possible to find (5)________ from the last place of work. Once we have received these details we (6)_______ your application.

Truly Yours,

 

a) complete the application form

b) enclosed your refrence

c) do employ staff

d) would appreciate

e) shall consider

f) enquired about a job.

 

Task 4. Choose the correct variant.

1. Shareholders lost money when the company declared itself … .

a) redundant

b) sold out

c) broken down

d) bankrupt

 

2. When they heard about our financial difficulties our … asked to be paid in advance.

a) services

b) deliveries

c) suppliers

d) orders

3. I can’t answer this letter without … information.

a) further

b) the furthest

c) far

d) the farthest

 

4. She … on business to Turkey next year.

a) will travel

b) travels

c) has travelled

d) will be traveling

 

5. Customers … not to leave their bags unattended.

a) are requested

b) will be requested

c) are being requested

d) requested

 

6. I knew that Tom … for insurance company for two years, but then he was working for Motorola Company.

a) worked

b) was working

c) had worked

d) works

 

7. Every day I see things which … be done.

a) might

b) must

c) could

d) had to

 

8. If I … you, I’d buy shares now.

a) were

b) was

c) am

d) have been

 

9. I hope … a job in Public Relations.

a) finding

b) find

c) to find

d) found

 

 

10. If I were you, I … a fake watch.

a) won’t buy

b) don’t buy

c) wouldn’t buy

d) didn’t buy

LESSON 5

Task 1. Complete the text with the words in the box.

1. distribution 5. Sale 9. expenses 13. concept 17. surplus
2. activities 6. Traditionally 10. goal 14. partnership 18. Services
3. Goods 7. company 11. shares 15. Business 19. creation
4. exchange 8. agreement 12. production 16. corporation 20. profit

The Concept of Business

Business is a word that is commonly used in many languages. ( 1 ), business simply meant ( 2 ) or trade for things people wanted or needed. Nowadays, the ( 3 ) and activities of business have increased. One definition of business is production, distribution, and sale of goods or services for a ( 4 ). To examine this defini­tion, let us look at its different parts.

First, ( 5 )is the creation of services or process­ing of materials into products. One example is the conver­sion of iron ore into metal car parts. Next, these products need to be moved from the plant to the marketplace. This is known as ( 6 ). A car might be moved from a plant in Germany to a car dealership in Poland. Third is the sale of goods and services. ( 7 )is the exchange of a product or service for money. A car is sold to someone in exchange for money.

( 8 )are products that people either need or want; for example, cars can be classified as goods. ( 9 ), on the other hand, are activities that a person or group perform for another person or organization. For example, an auto mechanic performs a service when he repairs a car. A barber renders a service when he cuts your hair.

( 10 ), then, is a combination of all these ( 11 ): pro­duction, distribution, and sale. However, there is another im­portant factor, i.e., ( 12 ) of profit or economic surplus. A major goal in the functioning of any business ( 13 ) is making a profit. Profit is the money that remains after all the ( 14 )are paid. Creating an economic

( 15 ) or profit is, therefore, a primary ( 16 ) of business activity.

The three traditional forms of business are the sole proprietorship, the partnership, and the. corporation. The sole proprietorship means going into business for oneself. All one needs is some knowledge about the business, start up capital and knowledge of regulations. The ( 17 )is an association of two or more people involved in business under a written partnership ( 18 ). The ( 19 )is the legal entity having a right to issue stock certificates. The people who own such stock certificates (or ( 20 )) are called stockholders/ shareholders. They in fact own the corporation.