3. Oral Practice

1. Answer these questions. In each of the following select the word or phrase that best completes the statement

1. One advantage of the sole proprietorship form of business organization is that

1. It is easy to raise capital

2. It has unlimited liability

3. There is limeted life of the business

4. There is no sharing of profit

2. The legal form of business organisation that has only one owner is known as

1. A sole proprietorship

2. A partnership

3. A cooperative

4. A stock company

3. One advantage of the corporate form of business organisation is that

1. The number of government regulations is small

2. There is unlimited liability

3. There is transfer of ownership

4. Taxes are low

4. One disadvantage of the corporate form of business ownership is that

1. It has limited liability

2. It has unlimited existence

3. It it requires a sharing of responsibility

4. It must comply with a number of government regulations

5. The most common form of business organization for a small business is

1. The corporation

2. The cooperative

3. The sole proprietorship

4. The partnership

2. Translate the following word-combinations:

in the eyes of law; productorservice being sold, for bringing desired people, easy of discontinuance, unlimited liability, co-owners of a business, divided authority

3. Find English equivalents in the text:

   1. Одноособове володіння – це підприємство, яким керує та володіє одна людина

   2. Корпорація може бути відкритою або закритою

   3. Тільки власник – єдиний, хто відповідає за влані борги та борги підприємства, приймає на себе весь ризик підприємства

   4. Без письмової згоди товариство реально не існує

   5. Це означає, що акції може купити кожний, хто забажає

4. Complete these sentences

   1. Three legal form are ...

   2. The sole proprietorship is a business owned and operated ...

   3. The owner and the business are synonymous in ...

   4. Partnerships are based upon ...

   5. A public or open corporation offers its stock to ...

5. Put necessary words and propositions

   1. Partnership are based ... a partnership agreement

   2. The sole proprietorship is a business owned and operated ... one person

   3. The principal owner ... a public corporation is the majority stockholder

   4. ... a written agreement, the partnership does not really exist

   5. The corporation is an association ... stockholders, formed ... government consent

4. Grammar Review the gerund

The gerund developed from the verbal noun, which in 'course of time became verbalized preserving at the same time its nominal character.

The gerund is formed by adding the suffix -ing to the stem of the verb, and coincides in form with Participle I.

The double nature of the gerund.

As a natural result of its origin and development the gerund has nominal and verbal properties. The nominal characteristics of the gerund are as follows?

1. The gerund can perform the function of subject, object and predicative.

They say smoking leads to meditation. (Collins) (subject)

I like making people happy. (Shaw) (object)

The duty of all progressive mankind is fighting for peace.(predicative)

2. The gerund can be preceded by a preposition.

I am very, very tired of rowing. (Hemingway)

3. Like a noun the gerund can be modified by a noun in the possessive case or by a possessive pronoun.

"I wonder at Jolyon's allowing this engagement," he said to Aunt Ann. (Galsworthy) «Меня удивляет, что Джолион допустил эту помолвку», — сказал он тетушке Энн.

Is there any objection to my seeing her? (Galsworthy) Кто-нибудь возражает против того, чтобы я повидался с ней?

The verbal characteristics of the gerund are the same as those of the participle:

1. The gerund of transitive verbs can take a direct object.

I had now made a good progress in understanding and speaking their language. (Swift)

2. The gerund can be modified by an adverb.

She burst out crying bitterly. (Hardy)

3. The gerund has tense distinctions; the gerund of transitive verbs has also voice distinctions. The forms of the gerund in Vlodem English are as follows:

	Active	Passive
Indefinite Perfect	writing having written	being written having been written

There is no gerund in the Russian language and the English gerund is rendered in Russian in different ways:

(a) by a noun.

Dancing had not begun yet... (Mansfield) Танцы еще не начались.

(b) by an infinitive.

She had tea with Cipriano before leaving. (Lawrence) Перед тем как уйти, она выпила чаю с Чиприано.

It is no good hiding our heads under our wings. (Galsworthy) Бесполезно прятать голову под крыло.

(c) by деепричастие.

And without waiting for her answer he turned and left us. (Du Maurier) И, не дожидаясь ее ответа, он повернулся и вышел.

On seeing Bella he stopped, beckoned her to him, and drew her arm through his. (Dickens) Увидев Беллу, он остановился, подозвал ее к себе и взял под руку.

(d) by a subordinate clause.

Не regretted now having come. (Galsworthy) Теперь он сожалел, что пришел.

It should be observed that though the active forms of the gerund may be rendered in different ways, the passive forms are nearly always rendered by a clause.

As she contemplated the wide windows and imposing signs, she became conscious of being gazed upon. (Dreiser) Когда она рассматривала широкие витрины и внушительные вывески, она почувствовала, что на нее смотрят.

After having been informed of the conference in my lady's room... he immediately decided on waiting to hear the news from Frizinghall. (Collins) После того как ему сообщили о совещании в комнате миледи, ... он сразу решил подождать, чтобы узнать новости из Фризингхолла.