Exercise 1. Make the sentences negative.

Model: I am going into business.

I am not going into business.

1. Your business is receiving the tax benefits.

2. Your partnership is running the great risk.

3. We are getting along quite well with my partner.

4. They are going to be general partners.

5. The partners are sharing profits and losses with each other.

6. Their partnership is losing their profit every month.

Exercise 2. Put up four questions of different types (general, special, disjunctive, alternative) to each sentence.

Model: The partners are getting along quite well.

1. Are the partners getting along quite well?

2. Why are the partners getting along quite well?

3. The partners are getting along well, aren't they?

4. Are the partners getting along well or badly?

1. Jane is doing the books in our firm.

2. We are putting the same amount of money into business.

3. My brother is investing his money in the private cafe.

4. They are distributing the losses unequally.

5. We are combining resources very well.

LESSON 3

CORPORATIONS

Text

A business corporation is an institution established for the purpose of making profit. It is operated by individuals Their snares of ownership are represented by stock certificates. A person who owns a stock certificate is called a stock-holder.

There are several advantages of the corporate form of ownership. The first is the ability to attract financial resources. The next advantage is the corporation attracts a large amount of capital it can invest it in plants, equipment and research. And the third advantage is that a corporation can often higher salaries and thus attract talented managers and specialists.

The privately owned business corporation is one type of corpora lion. There are some other types too. Educational, religious, charitable institutions can also incorporate. Usually such corporation does not issue stock and is nonprofit. If there is a profit it is reinvested in the institution rather than distributed to private stockholders.

In some western countries, cities, stales, federal government and special agencies can establish governmental corporations. A few examples of the governmental corporations are state universities, state hospitals and city owned utilities. Governmental corporations are non-profit as a rule and usually they do not issue stock certificates.

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