Билет № 1 (2190)

A SOLE PROPRIETORHSIP

A business may be privately owned in three different forms. These forms are the sole proprietorship, the partnership and the corporation. Which of these forms of organization you choose depends on such questions as the size of your business, if you are the only owner of your business or you have partners. The sole proprietorship is the most common in many western countries. For example, more than 80 per cent of all businesses in the USA are sole proprietorships.

A sole proprietorship is the simplest organizational form. There is one owner of the business who usually takes the title of President. So he or she can make any decision without consulting anyone. Service industries, such as beauty shops, different repair shops, restaurants, etc. are sole proprietorships.

1. sole proprietorship – частная собственность

2. to own – владеть

3. to depend on – зависеть от

4. to take the title – называть(ся)

5. to make any decision – принимать любое решение

6. service industries – сфера обслуживания

Answer the following questions:

1. What are the forms of business?

2. What does your form of business depend on?

3. Why is the sole proprietorship the simplest form of business?

4. Can you give any examples of the most common sole proprietorship?

Билет № 2

Partnership

A partnership is an association of two or more persons. 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 one firm but without authority in management. There is also a 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 medicine, law, accounting, insurance and stockbrokerage.

Partnerships have some advantages. They are easy to form and often get tax benefits from the government. Partnerships have some disadvantages too. One is that each partner is responsible for all debts and legally responsible for the whole business. Another disadvantage is that partners may disagree with each other.

1. general partner – общий партнер

2. limited partner - партнер с ограниченной юридической ответственностью

3. silent partner – партнер без права голоса

4. secret partner – секретный партнер (с правом голоса, но неизвестный общественности как партнер)

5. law – юриспруденция

6. insurance – страхование

7. stockbrokerage – биржевое маклерство

8. tax benefits – налоговые льготы

9. to be responsible for debts – отвечать за долги, быть ответственным за долги

Answer the following questions:

1. What is a partnership?

2. Is there any difference between a silent partner and a secret partner? What is the difference?

3. What professional fields are the partnerships found in?

4. What are the advantages and disadvantages of a partnership?