Учебно-методический комплекс дисциплины фтд. 3 «Деловые контакты на иностранном языке» Программа факультатива по английскому языку для специальностей



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Partnership (англ.), General Partnership (амер.) полное товарищество– это ассоциация двух и более лиц, занимающаяся тем или иным бизнесом с целью получения прибыли. В отличие от акционерной компании товарищество не является юридическим лицом, поэтому партнеры несут неограниченную ответственность по обязательствам товарищества.

Limited Partnership (коммандитное товарищество) включает основных партнеров, которые управляют делами товарищества и несут полную ответственность за его долги перед кредиторами, и партнеров с ограниченной ответственностью, которые не принимают активного участия в управлении товариществом и несут ответственность за его долги только в размере своего взноса в товарищество.

Master Limited Partnership (открытое коммандитное товарищество) сочетает в себе черты коммандитного товарищества и открытого акционерного общества. От простого коммандитного товарищества оно отличается тем, что имеет право выпускать и пускать в свободную продажу свои акции. При этом полные партнеры несут неограниченную ответственность по долгам такого товарищества, а держатели его акций – только в размере своего взноса в него.

Доходы товариществ не облагаются налогом на прибыль компаний, участники товарищества включают доходы от его деятельности в свой личный доход, облагаемый подоходным налогом для физических лиц.

Форма товарищества не очень распространена в настоящее время. В основном это – адвокатские конторы, семейные предприятия и т.п. в название товарищества включается фамилия одного или нескольких партнеров, например: Wilson & Sons; Smith & White.

2. Компании с ограниченной ответственностью и совместные предприятия.

Наиболее распространенным типом компаний в Великобритании являются зарегистрированные компании (registered companies), т.е. компании, зарегистрированные в соответствии с Законом о компаниях. Зарегистрированная компания является юридическим лицом о может быть либо открытой компанией с ограниченной ответственностью (Public Limited Company), либо частной компанией (Private Company).



Public Limited Company – это компания с уставным фондом не менее 50 тысяч фунтов стерлингов, имеющая право свободно предлагать свои акции и другие ценные бумаги населению. После названия такой компании ставятся буквы Plc. В нашем законодательстве термину Public Limited Company соответствует термин «Открытое акционерное общество».

Private Limited Company – это частная компания с ограниченной ответственностью, которая может включать до 50 акционеров. Ее акции не могут быть предложены и проданы широкому населению. После их названия ставятся буквы Ltd. В нашем законодательстве термину Private Limited Company соответствует термин «Общество с ограниченной ответственностью закрытого типа».

В США акционерная компания с ограниченной ответственностью называется корпорация. После названия корпорации ставятся буквы Inc. После регистрации корпорации в государственном учреждении ей выдается разрешение на создание корпорации (Certificate of Incorporation), после чего компания считается юридическим лицом.



Private Limited Company (частная компания с ограниченной ответственностью) называется в США Close Corporation.

Прибыль корпораций и компаний с ограниченной ответственностью облагается налогом на прибыль. В Великобритании для малых компаний установлены более низкие ставки налога на прибыль.

Если две или более компании или физических лица хотят реализовать совместный проект, то они создают совместное предприятие – Joint Venture. После завершения проекта совместное предприятие обычно распадается.
Words and expressions

Заниматься бизнесом - to carry on business

Прибыль - profit

акционерная компания - stock company

юридическое лицо - legal entity

обязательства - obligations

основной партнер – general partner

кредитор - creditor

партнер с ограниченной ответственностью – limited partner

выпускать и пускать в свободную продажу - produce and put on sale

акция - share

облагаться налогом на прибыль - to be subjected to corporation tax

доход - income

Закон о компаниях - corporation law

уставный фонд - collective investment fund

ценные бумаги - securities

корпорация - corporation

ставка налога – tax rate

Questions.


  1. What types of companies in Britain and the USA can you name?

  2. What is Unlimited Partnership?

  3. What are the differences between Limited Partnership and Master Limited Partnership?

  4. Who are general partners?

  5. What is the main difference between a partnership and a registered company?

  6. What types of registered companies can you name?

  7. What is the difference between American and British stock companies?

Unit VI
ON A BUSINESS TRIP

Illustrative dialogue.



Mr. Savinov is going to Finland on business. He is telephoning Walter Marttinen and asking him to reserve a room at a hotel. After that he is buying an air ticket to Helsinki.

Secretary: Good morning.

Savinov: Good morning. I’d like to speak to Mr. Marttinen.

Secretary: What is your name, please?

Savinov: This is Andrei Savinov, from the North Shipping Company.

Secretary: Hold on, please.

Marttinen: What is it, Miss Elliot?

Secretary: Mr. Savinov from the North Shipping Company is on the phone, he wants to talk to you.

Marttinen: Put him through. I’ll talk to him.

Secretary: OK, I’m connecting you.
Marttinen: Good morning, Mr. Savinov.

Savinov: Good morning. I’ve pleasure in informing you that we carefully studied your materials and decided to accept your proposal.

Marttinen: Thank you, it’s good news.

Savinov: I’m going to come to Helsinki and discuss with you the main points of our agreement in detail.

Marttinen: When are you going to come?

Savinov: On Wednesday, next week.

Marttinen: Are you going to travel by air?

Savinov: Of course, it is the quickest way. The plane arrives at about 2 p.m. if I’m not mistaken.

Marttinen: I’ll send the car to meet you at the airport.

Savinov: Thank you Mr. Marttinen. What hotel may I stay in?

Marttinen: I’d recommend the Sokos Hotel. It’s very nice. Shall I reserve a room for you?

Savinov: Yes, if it isn’t too much trouble. I’d like to book a single room for three nights.

Marttinen: OK, I’ll ask the secretary to do it. Goodbye, Mr. Savinov. Have a good trip.

Savinov: Goodbye, Mr. Marttinen, see you next week.
Reserving a room at the hotel.

Receptionist: Hello. Sokos Hotel. Can I help you?

Secretary: Yes, I’d like to reserve a single room for three nights, from Wednesday, the 12th , to Friday the 14th, inclusive.

Receptionist: Let me see…Yes, Miss. A single room for three nights with English breakfast, is that right?

Secretary: Yes, that’s right.

Receptionist: What is your name, please?

Secretary: It isn’t for me, it is for Mr. Savinov.

Receptionist: Could you spell it?

Secretary: Yes, of course. S-A-V-I-N-O-V.

Receptionist: Thank you, Miss.
Buying a ticket.

Booking-clerk: Good morning. What can I do for you?

Savinov: I want to fly to Helsinki. Are there any seats available on Wednesday, next week?

Booking-clerk: Are you flying alone, sir?

Savinov: Yes.

Booking-clerk: What class?

Savinov: Economy.

Booking-clerk: Just a moment, sir, I’ll check… there are a few seats left. What’s your name, sir?

Savinov: Andrei Savinov.

Booking-clerk: Would you like to buy a return ticket?

Savinov: Yes if possible. How much is it?

Booking-clerk: It is 5,350 rubles, including airport taxes.

Savinov: OK, here you are.

Booking-clerk: Your tickets, please, check the date and the name.

Savinov: Thank you very much.
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Words and expressions

Business trip - командировка

Hold on – не вешайте трубку

Put him through соедините его

To accept your proposal – принять ваше предложение

Discuss with you the main points of our agreement – обсудить с Вами основные положения нашего соглашения

To travel by air – лететь самолетом

To arrive – прибывать, приезжать

Reserve a room - заказать

To book a single room – заказать одноместный номер

English breakfast – английский завтрак

Spell – назвать по буквам

Are there any seats available? – Есть ли у вас свободные места?

Economy class – экономический класс

One-way/ return ticketбилет в один конец/обратный билет

Airport taxes – сборы в аэропорту

EXERSICES

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I Translate into English.

1) Я бы хотел поговорить с мистером Брауном.

2) Соедините меня с менеджером по продажам.

3) Мы изучили предложенные материалы и решили принять ваше предложение.

4) Нам необходимо обсудить основные положения нашего соглашения.

5) Мы собираемся лететь самолетом.

6) Это вполне приличная и недорогая гостиница.

7) Я бы хотел заказать двухместный номер с 3 по 6 февраля включительно.

8) Желаю вам приятного пути.

9) Мы будем в вашем городе на следующей неделе.

10) Вы полетите бизнес или экономическим классом?

11) Во сколько прибывает ваш самолет?

12) Пришлите, пожалуйста, машину в аэропорт, так кА самолет прибывает очень поздно.

13) Произнесите вашу фамилию по буквам.

14) Вам какой билет: в один конец или туда и обратно?
II Make up the dialogue: find the necessary answers. Retell it.

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How long are they staying?

Are there any seats available?

When can the tickets come?

When do they plan to leave?

What are the options?

Are there any British Airways flights about that time?
Susan: Grand Tour Agency. Susan Sharp speaking.

Hans: Hello, Susan. This is Hans Bradly. I need to send two our sales managers to Rome next week. _________________________________________?

Susan: OK. __________________________________________?

Hans: Four days. They would like to come back on the 17th night. _____________________________?

Susan: Let me have a look. There is a flight at 8.50 a.m. with British Airlines.

Hans: __________________________________________?

Susan: Fortunately, there are. I’ve just called it up on the screen. Shall I reserve you two right now?

Hans: Yes, please. And make it business class, OK? ________________________________?

Susan: In three or four days. I’ll send it to you as soon as they arrive.
III Imagine:

a) Your business partner is calling to you. Do the following:

- спросите по-английски, какую компанию он представляет;

- попросите у него прощения, скажите, что вы сейчас заняты, пообещайте перезвонить ему попозже;

- узнайте, из какого города он вам звонит, а так же уточните код города и номер телефона, с которого он вам звонит.


b) Your business partner from England is calling to you. He is coming to your city on a business trip. Do the following:

- спросите по-английски, какого числа он собирается к вам приехать;

- спросите, когда прибывает его рейс, и пообещайте встретить его в аэропорту;

- спросите, не заказать ли ему номер в гостинице;

- пожелайте ему приятного пути.
IV Make up the dialogues.


    1. You are going on a business trip. Phone to the booking-office and order a ticket to the place of your destination.

    2. You are going on a business trip. Make a telephone call to the manager of the hotel. Reserve a room.

    3. You are going to book a room for your friend. Your friend is very choosy (разборчивый, привередливый). Speak to the receptionist and make sure that the room is to your friend’s liking (по вкусу вашему другу).

Unit VII


AT THE HOTELase?

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When going to a business trip you very often have to stay at a hotel. The best way is to reserve a room in advance. When coming to a hotel you must observe some formalities. The desk-clerk will hand you an arrival card which all guests are required to fill in. The following information is required:



  • the name (in full) – surname, (first) name, patronymic;

  • place of permanent registration;

  • passport number.

After having filled in the arrival card you must pay for all accommodation. The price depends on the duration of your staying at the hotel and the number of rooms booked. When all the formalities are over the desk-clerk hands you the key and you may go upstairs to occupy the room. At the hotel you will find rooms with or without bath, single rooms, double rooms and complete suits consisting of two or more rooms.

Once you decide to stay at the hotel you are referred to as a “guest”. You will find notices everywhere reminding guests to leave keys at the desk when going out. All the keys are hung on a special key rack.

In the lobby you will usually find a newspaper stall and stalls where cigarettes and souvenirs are sold. You can also find a special corner or room to write letters. Guests are given a telephone service as well: you may book a trunk- call or reserve railway and airline tickets from your room telephone.

Most of hotels have snack bars and restaurants. Besides there is a coffee-bar and grill-bar downstairs.

The desk-clerk will answer all your questions and give you any information you need. He can also order railway tickets for you or book a ticket for the next boat out.

All hotels run a special laundry service for their guests. You can have your laundry done and your clothes ironed. The maid does your room every morning so you needn’t even make your bed. At the entrance of the hotel there stands a doorman whose duty is opening the door for those who enter or leave the hotel, hailing taxicabs, calling a porter and so on.

Guests are required to notify the clerk in advance about leaving so that he could have the bill ready for them in time.
Words and expressions

To reserve (book) a room – заказывать, бронировать номер

At the height of the season – в разгар сезона

A desk-clerkдежурный администратор

An arrival cardлисток прибытия

A guestчеловек, останавливающийся в гостинице, гость

An accommodationпомещение с удобствами

A single (double) roomномер на одного (на двоих)

A complete suit of rooms – апартаменты «люкс»

To leave at the desk – оставлять у портье

A key rack – стенд для ключей

A lobby – фойе, вестибюль

For the next boat out – на ближайший пароход

To run a laundry service – осуществлять услуги по стирке

To iron clothes – гладить одежду

To hail a taxicab – ловить (окликать) такси

Check in at a hotelпоселиться (зарегистрироваться) в гостинице

Check out of a hotelвыехать из гостиницы, освободить номер

Hotel is full upв гостинице нет свободных номеров
EXERSICES

I Say the same in some other words:

1. If you have a chance to put up at a hotel you are lucky.

2. We’d like a room for two with bath for the night.

3. When traveling it is better to reserve a room in advance.

4. At the newsstand one can buy newspapers, cigarettes and souvenirs.

5. When staying at the hotel we had our breakfast in the refreshment room downstairs.

6. Guests must tell the clerk in advance about leaving.

7. Very often at our hotels tourists can see a notice “All reserved”.


II Answer the following questions

  1. Why do travelers usually reserve rooms in advance?

  2. Is it easy to reserve a room at the hotels in your city?

  3. What are the duties of a deck-clerk?

  4. What services do hotels usually run?

  5. What information is required for filling in the arrival card?

  6. What kinds of rooms are available at the hotels?

  7. What is usually located downstairs at the hotels?

  8. What are the duties of s doorman?

III Study additional vocabulary on Hotels. Learn the words in bold by heart.

a) Types of hotel.

Hotels in Britain are graded with stars from one-star to five-star. Five-star hotels are the best and most expensive. You can also stay in a Bed & Breakfast (B&B) also called Guest House where you pay for a bedroom and breakfast.


b) Types of hotel accommodations.

A single room: for one person with a single bed

A double room: for two people with one large double bed

A twin room: for two people with two single beds

Full board: includes breakfast, lunch and dinner

Half board: includes breakfast and dinner

B&B: just the room and breakfast

c) A visit to a hotel.

We stayed in the Carlton Hotel for three nights in July, but I booked (=reserved) our rooms three months in advance (=before) because it was the middle of the tourist season. When we arrived we checked in at reception, then the porter carried our suitcases up to the room. I gave him a small tip – about 50 cents, I think. The staff were very friendly – we had a very nice chambermaid (= the woman who cleans the room) – and the room was very comfortable. The only problem we had, in fact, was with the shower which didn’t work very well.


d) Useful words and expressions.

Could I book (reserve) a room for next Tuesday?

Could I have an early morning call at 7 a.m. please?

Could you wake me at 7 a.m.?

Could you put it on my bill, please?

Could I pay my bill?

Could you order (call) a taxi for me?

Are you fully booked (completely full) next week?

Is breakfast/dinner included?

Does the price include breakfast?

Where is the lift?

How do I get to the underground station from here?


IV Put the sentences in logical order.

  1. I paid my bill

  2. I checked in at reception.

  3. I left the hotel.

  4. I went up to my room.

  5. I spent the night in the hotel.

  6. I had an early morning call at seven o’clock.

  7. I booked the room in the hotel.

  8. I went out for dinner in a local restaurant

  9. I arrived at the hotel.

  10. I got up and had a shower.

  11. I had breakfast.

  12. I tipped the porter who carried my luggage upstairs.


V What would you say in these situations?

1) You want to stay in a hotel for two nights next week with your husband/wife. You phone the hotel. What do you ask or say?

2) You are at the hotel reception and you are planning to leave in about 15 minutes. What could you ask the receptionist?

3) You want to wake up at 7 a.m. but you don’t have an alarm clock (будильник). What do you ask at reception?

4) You have a drink in the hotel bar. The barman asks how you want to pay. What’s your reply?

5) When you turn on the shower in your room, the water comes out very slowly. What could you say at reception?

6) You want to go to the nearest bank but you don’t know where it is. What do you ask at reception?
VI You are staying in quite a good hotel in your country. Would you expect to have the following? Why?

- a room without a private bathroom;

- a hairdryer in the bathroom;

- a colour television in the room;

- a telephone in the room;

- writing paper in the room;

- a machine for making tea and coffee in the room;

- air conditioner in the room.


VII Speak about:

  1. the formalities when reserving a room;

  2. the duties of a desk-clerk;

  3. special services which all hotels run.


THE FOLLOWING PHRASES WILL HELP YOU:

  1. to observe some formalities;

to take an arrival card from the desk-clerk;

to fill in the arrival card;

to pay for all accommodation;



  1. to hand an arrival card to the guest;

to give the key to the room;

to answer the questions;

to book tickets;


  1. to run a laundry service;

to iron clothes;

to call a porter.



VIII Translate into English

1) Я заказал в вашей гостинице одноместный номер с ванной. Могу я его занять?

2) Сколько дней вы предполагаете пробыть в нашей гостинице?

3) Заполните листок прибытия, предъявите паспорт и уплатите за пять дней вперед.

4) Все двухместные номера находятся на третьем этаже.

5) Вы можете получить любую информацию у администратора гостиницы.

6) Сколько стоит двухместный номер?

7) На ваше имя забронирован одноместный номер на 25 мая.

8) У нас все номера заняты.

9) Просьба к выезжающим из гостиницы освободить номера к полудню.

10) Попросите к телефону дежурного администратора.

11) Мне нужно заполнить заказ (order) для прачечной.


Unit VII
MONEY – BUYING, SELLING AND PAYING

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Personal finance.

Sometimes in a shop they ask you: “How do you want to pay?” You can answer: “Cash./ By cheque./ By credit card.”

In a bank you usually have a current account. Which is one where you pay in you salary and then withdraw money to pay your everyday bills. The bank sends you a regular bank statement telling you how much money has gone in and out of your account. You may also have a saving account where you deposit any extra money that you have and only take money out when you want to spend it on something special. If you spend more than you have in your account you can have an overdraft. The banc allows you to spend more and charges your interest. If your account is overdrawn (you have taken more out of your account than you had in it) you are in the red.

Sometimes the bank may lend you money – this is called a bank loan. If the bank lends you money to buy a house, that money is called a mortgage.

When you buy something in a shop, you usually pay for it outright but sometimes you buy on credit. Sometimes you may be offered a discount or a reduction on something you buy. For example, you might get ₤10 off perhaps because you are a student. You are often offered a discount if you buy in bulk. It is not usual to haggle about prices in a British shop, as it is in, say, a Turkish market. If you want to return something which you have bought to a shop, you may be given a refund, i.e. your money will be returned, provided you have a receipt.

The money that you pay for services, e.g. to a school or a lawyer, is usually called a fee or fees; the money paid for a journey is a fare. If you buy something that you feel was very good value, it’s a bargain. If you feel that it is definitely not worth what you paid for it, then you can call it a rip-off.



Public finance.

The government collects money from citizens through taxes. Income tax is the tax collected on wages and salaries. Inheritance tax is collected on what people inherit from others. Customs or excise duties have to be paid on goods imported from other countries. VAT or value added tax is a tax paid on most goods and services whet they are bought or purchased. Companies pay corporation tax on their profits. If you pay too much tax, you should be given some money back, a tax rebate.

The government also sometimes pays out money to people in need, e.g. unemployment benefit (dole), disability allowances and student loans (money lent to help pay for studying). Recipients draw a pension/ unemployment benefit or are on the dole or on social security.

Every country has its own special currency. Every day the rates of exchange are published and you can discover, for example, how many dollars there are currently to the pound sterling.



A company may sell shares to members of the public who are then said to have invested in that company. They should be paid regular dividend on their investment, depending on the profit or loss made by the company.
Words and expressions

Cash - наличные

Cheque - чек

Сredit card - кредитная карточка

Current account – текущий счет

Pay in – вносить на текущий счет

Withdraw - брать, извлекать, снимать

Bill - счет

Bank statement баланс банка, перечень банковских счетов

Saving account - депозит, депозитный счет; сберегательный счет

Deposit – класть, размещать

Overdraft - превышение кредита ( в банке )

In the red - влезший в долги; превысивший кредит; убыточный

Lend – одалживать, давать взаймы

A bank loan – банковский заем, ссуда

Mortgage – [׳mɔ:ɡιʤ]заклад; ипотека

Outright - немедленно, тотчас, (прямо) сразу

Discount - скидка

Reduction - скидка, дисконт

To haggle - торговаться (about, over - о чем-л.; with - с кем-л.)

In bulk - без упаковки; насыпью

Refund - возврат суммы

Receipt -чек

Fee/fees – оплата, гонорар

Fare – оплата, тариф

Bargain - выгодная покупка; дешево купленная вещь

Rip-off - ценовое ограбление (значительное завышение розничных цен)

Tax - налог; пошлина, сбор

Income tax- подоходный налог

Wage- заработная плата; жалование; оклад

Salary - жалованье, заработная плата; оклад

Inheritance tax – налог на наследство

Customs or excise duties - акцизный сбор ( сбор или налог, которым облагаются определенные товары )

VAT or value added tax - налог на добавленную или приращённую стоимость (включается в цену товара на различных стадиях его производства и сбыта и повышается по мере роста стоимости товара

Corporation tax - налог с доходов компаний

Tax rebate - возврат [возмещение] налога (возврат государством налогоплательщику излишне уплаченных налогов; излишние налоги обычно вызваны ошибками и по сути представляют собой беспроцентный кредит правительству)

Unemployment benefits (dole) - пособия по безработице

Disability allowances – пособие по нетрудоспособности

Student loan - студенческий заем ( предоставляется студенту или аспиранту под низкие проценты или беспроцентно)

Draw – зд. получать ( деньги и т. п. )

Dole ( social security)- социальное страхование

Currency- деньги, валюта

Rate of exchange – курс обмена валюты

Share – зд. акция

Dividend - дивиденд ( часть прибыли, распределяемая ежегодно между акционерами )

Profit - прибыль, доход

Loss - убыток, ущерб, потеря

Be in the black - приносить доход ( доходы в старинных конторских книгах записывались черными чернилами, долги и расходы - красными )
EXERSICES

I Answer the following money quiz.

1. What currencies are used in Australia, England, the USA and Russia?

2. What does the expression ‘hard currency’ mean?

3. Give two examples of imports that most countries impose customs duties on.

4. Give three examples of kinds of income that would be classed as unearned.

5. What is the Dow Jones index and what are its equivalents in London and Japan.

6. Give an example of something that is priceless and something that is valueless.

7. Name the coins and banknotes used in your country, in England, in the USA.


II Match the words on the left with their definitions on the right.

1 interest

2 mortgage

3 an overdrawn account

4 savings account

5 current account

6 pension

7 disability allowance

8 child benefit

9 inheritance tax


- a bank account with a negative sum of money in it

- money paid towards the cost of raising a family

- money paid on what is inherited after someone dies

- an account that is used mainly for keeping money

- money paid to people after a certain age

- an account for day-to-day use

- money chargeable on a loan

- money paid to people with a handicap*

- a loan to purchase property


* handicap - физический или умственный недостаток; увечье.
III Complete the sentences with words from the box.

Loan refund discount black rebate




  1. If you get something more cheaply, perhaps because you buy a bulk, you get a ….. .

  2. If the bank lends you money, you have a bank ….. .

  3. If you have some money in your account you are in the ….. .

  4. I paid too much tax last year so I should get a ….. soon.

  5. If it’s no good, take it back to the shop and ask for a …


IV Make up a vocabulary story using the words from the list of Words and expressions.

Appendix 1
ADDITIONAL READING

Text 1.


WHAT IS INTERNATIONAL TRADE?

The basic idea of international trade and investment is simple: each country produces goods or services that can be either consumed at home or exported to other countries.

The main difference between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders. Although global trade is often added up in US dollars, the trading itself involves various currencies. Japanese CD player is paid for in euros in Berlin, and German cars are paid for in US dollars in Boston. Indian tea, Brazilian coffee, and American films are sold around the world in currencies as diverse as Turkish liras and Mexican pesos.

Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the exporting nation, and money flows out of the importing nation. Trade and investment is a two-way street, and with a minimum of trade barriers, international trade and investment usually makes everyone better off.

In an interlinked global economy, consumers are given opportunities to buy the best products at the best prices. By opening up markets, government allows its citizens to produce and export those things they are best at and to import the rest, choosing from whatever the world has to offer.

Some trade barriers will always exist as long as any two countries have different sets of laws. However, when a country decides to protect its economy by erecting artificial trade barriers, the result is often damaging to everyone, including those people whose barriers were meant to protect.

The Great Depression of the 1930s, for example, spread around the world when the United States decided to erect trade barriers to protect local producers. As other countries retaliated, trade plumped, jobs were lost, and the world entered into a long period of economic decline.

Text 2.


PARTNERSHIPS

A partnership is an association of two or more persons to carry on a business for profit. When the owners of the partnership have unlimited liability they are called general partners. If partners have limited liability they are “limited partners”. There may be a silent partner as well – a person who is known to the public as a member of the firm but without authority in management. The reverse of the silent partner

is the secret partner – a person who takes part in management but who is not known to the public.

Any business may have the form of the partnership, for example, in such professional fields as medicine, law, accounting, insurance, and stockbrokerage. Limited partnerships are a common form of ownership in real estate, oil prospecting quarrying industries, etc. Partnerships have more advantages than sole proprietorships if one needs a big capital or diversified management. Like sole proprietorship they are easy to form and often get tax benefits from the government. Partnerships have certain disadvantages too. One is unlimited liability. It means that each partner is responsible for all debts and is legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.

Text 3.


СORPORATIONS


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