II. Exercises on the Text:

3. Give English equivalents to:

корпоративные свойства; личное имущество; корпоративная ответственность, задолженность по федеральным налоговым платежам; финансовый год; общие поступления (или убытки); «двойное налогообложение»; «отмываются»; заносятся прямо в индивидуальную налоговую декларацию; операционный учет; бухгалтерские расходы; управленческие расходы; немедленная прибыль от доходов; серьезные причины; способность сохранить и инвестировать; доход, подлежащий налогообложению; оно очевидно откажется от распределения дивидендов наличными; учитывая влияние амортизационных отчислений.

4. Combine the words into sentences:

1. like, its, a partnership, is, Federal, it, liability, for purposes, income, of determining, tax, treated.

2. no, among, of the S-corporation, is, the advantages, «double taxation», for small business.

3. «washed through», all income, at the end, losses, of each fiscal year, credits, and deductions, are, the S-corporation.

4. the most popular, sound, are, to state, corporate structure, there, reasons, this, that, generally, is.

5. 34 percent, up to $10 million, income tax rate, is, the maximum, for taxable income, Federal, for C-corporation.

5. Sum up what the text says about:

the advantages of the S-corporation;

the charge to conventional C-corporation.

6. Us government defines a small business as one that has fewer than 500 employees. Why do you think that most small business are in the service and retail fields?

A. Transportation/Communication - taxi service, trucking, warehousing, radio station.

B. Finance - insurance, real estate, banking.

C . Wholesale - distributor, grain elevator.

D. Other - mining, landscaping, fishing, unclassified.

E. Service - motel, barber shop, advertising agency.

F. Manufacturing - machine shop, printing, brewing.

G. Retail - gas station, shoe store, restaurant, florist.

H. Construction - general constructor, plumbing and heating, electrical.

III. Grammar Exercises

Forms and Functions of Participle I.

	Active Voice	Passive Voice
Present Participle	using 1. определение: применяющий (иногда: -вший) 2. обстоятельство: применяя	being used 1. определение: применяющийся, применяемый, который применяется 2. обстоятельство: будучи применен, когда применяется
Perfect Participle	having used обстоятельство: применив (-яв, -вшись)	having been used обстоятельство: после того как применили, так как применили, когда применили.

7. Define the form of Participle I:

enjoying, being emptied out, having asked, having developed, working, having been invited, being built, living, being assisted.

8. Translate the following sentences into Russian paying attention to the forms and functions of Participle I:

1. Having done that, they let investors determine the risks for themselves.

2. The governments of 50 states have structures closely paralleling those of the federal governments.

3. Prices paid by consumers also include Value-Added Taxes, reflecting the costs of providing goods and services for sale.

4. VATs are the principal means of indirect taxation in many countries, including the member states of the European Union.

5. In most extreme form, chromic price increases become hyperinflation, causing the entire economic system to break down.

6. Being shown this document, he said it belonged to the well-known S-corporation.

7. Having been written the balance sheet was given to the chief executive officer.

8. Having been completed so carefully the material didn't need any corrections.

9. The trademark, a two- or three-dimensional insignia symbolizing a company or industry, dates from about the 16^th century.

10. The agency spends most of its time planning, creating, and producing the advertising for its clients.

The Absolute Participle Construction

Noun (общ.п.) +Participle Pronoun (им.п.)

+подл.+сказ.+доп , ,

Noun (общ.п.) +Participle Pronoun (им.п.)

переводится обстоятель­ствен­ным придаточным предложе­нием с союзами - так как, поскольку, если, когда.

переводится самостоя­тель­ным предложением с союзами - а, и, причем, при этом или без союза

It being very late, we went to the hotel. This done, we had a good rest.

We had two lectures yesterday, the last being on economics He sat alone, his eyes closed.