2. Choose the alternative to express the same idea as the word or phrase italicised.

41. The company’s plan of action is being developed at the moment.

a) budget b) strategy c) objectives

42. Our central office is located in St. Petersburg.

a) subsidiary b) subdivision c) headquarters

43. I am planning to work abroad for a few years.

a) overall b) overseas a) overtime

44. The top managers are responsible for reaching the company’s objectives.

a) producing b) advertising c) achieving

45. The operating divisions of our company are managed like separate small businesses.

a) run b) responsible c) established

46. William Colgate launched the Colgate Company in 1806 as a starch, soap and candle business in New York City.

a) sold b) founded c) closed

47. Last year their profits were more than $1 billion.

a) increased b) raised c) exceeded

48. We need to hire some 30 new people.

a) fire b) sack c) recruit

49. We continue to have a close partnership with the environmental societies. a) set up b) establish c) maintain

50. Last year we established a new subsidiary in the North West Region.

a) produced b) set up c) targeted

51. Our company has either to make changes and introduce new ideas or die. a) increase b) innovate c) split

52. An American called Elias Howe invented the sewing machine but Isaac Singer stole his legal document, which gave him the exclusive right to sell an invention.

a) insurance policy b) patent c) memorandum

53. At the beginning of the meeting boss said that the company’s results obtained over the last three months left much to be desired.

a) performance b) sales c) research

54. The work done in order to investigate the market shows that there are a lot of opportunities for our product.

a) promotion campaign b) market research c) advertising

55. Our company added $10 million a year to the amount of money used for the research.

a) research development b) market research c) research budget

56. I am responsible for the International Trade Department.

a) in charge of b) setup c) determine

57. Baltika’s headquarters are located in St. Petersburg.

a) central office b) CEO c) top managers

58. Our employees often get certain sums of money in addition to a salary.

a) cheques b) bonuses c) motivations

59. The new management strategy in our company is associated with the reduction in the number of employees.

a) shortening b) abridgement c) redundancies

60. The management structure of our company should be made more efficient.

a) changed b) rationalized c) worked out

61. All candidates for the position of a marketing manager should write detailed description of their characteristics and experience.

a) their portraits b) their attitudes c) their profiles

3. Choose the correct alternative to fill each space in the text.

Chevron Corp., the second-largest U.S. oil company agreed to (62)______ third-ranked Texaco Inc. in a $35 billion (63)________deal that formed (64)__________ powerhouse, sources familiar with the situation said.

Chevron and Texaco (65)__________ as the world’s fifth- and seventh-largest oil companies. They (66)_______long viewed as ripe to (67)_______ in the consolidation sweeping the industry.

The (68)________ of both companies approved the deal after details of the (69)________ were finalized.

Cost-cutting is a key (70)________ of the deal and Chevron plans to (71)_________ $1.2 billion in costs from the combined company. Chevron expects the deal (72)________ earnings (73)_______ and cash flow after it (74)________ the cost-cutting goals.

62. a) buy b) buying c) have bought

63. a) share b) stake c) stock

64. a) a production b) an energy c) an economic

65. a) consider b) rank c) range

66. a) are b) were c) have been

67. a) participate b) hold c) manage

68. a) employees b) managers c) boards

69. a) transaction b) company c) situation

70. a) profit b) goal c) plan

71. a) cut off b) increase c) fall

72. a) boosting b) to boost c) boosted

73. a) per stock b) per stake c) per share

74. a) hits b) achieves c) aims