Complete these sentences using the correct form of one of the words above. Make sentences of your own to show that you understand the difference in their meaning

Assets

Ex.7. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

Ex.6. Look at the words and phrases in the box. Match them with the correct definition from the list below.

1. the money that a business spends in order to produce goods or services;

2. the quantity of goods produced;

3. the money spent to run a business, such as rents, salaries, heat, etc.

4. items of value to a person, business, or institution;

5. money owed by a company; a debt;

6. money that is owed to a business;

7. a sum of money paid into a bank;

8. an amount of money spent;

9. debts that are payable on demand or within one year;

10. money owed that does not have to be repaid until some future date;

11. the cost of materials, labour, etc. involved in making a product.

1. We had to increase prices this year just to cover our ….

2. Factory workers have increased … by 10 %.

3. It took him years to pay off all his ….

4. … are bills that the company expects to pay in the near future.

5. … include rent.

6. Updating these machines will increase our … this year.

7. The company does not have enough money to meet its ….

8. He is … to pay his debts.

9. The assets help … the income of the company.

10. The company was forced to sell off its ….

11. Telephone bills, payroll, and rent are some of our monthly ….

	assets, generate, due, liabilities, expenditure, fixed costs, current liabilities, debts, output, costs, expenses.

Ex.8. Fill in the missing prepositions:

Current assets are cash and other assets that can be quickly converted … cash or that will be used … one year. Cash is the most liquid asset, so it is listed first. Following that are stocks, bonds, and so on – that can be converted … cash … a matter … days. Next are the firm’s receivables.

Fixed assets are assets that will be held or used … a period longer than one year. They generally include land, buildings, and equipment.

Intangible assets are assets that do not exist physically but that have a value based … legal rights or advantages that they confer … a firm. They include patents, copyrights, trademarks. They are … value … the firm … a number … years.

(to, on (2), for (2), of (3), in, into (2), within)

Ex.9. These words are often confused:

price worth cost value

price	– the amount of money you have to pay (usually for goods) in order to buy them;
worth	– adj. having a value or a price;
cost	– n. the amount of money paid or charged for goods or services; – v. to be the price of something;
value	– the amount that something is worth, measured especially in money.

1. She bought this coat in the sales for a very good ….

2. I thought this bracelet was made of gold, but it turned out to be ….

3. Will the … of my property go down if they build a plant nearby?

4. This dress was a real bargain; it only … me $20.

5. The … of keeping a person in prison for a year is enormous.

6. I’ll send you a cheque to cover the … for the stamps.

7. That shop was always empty because the … were too high.

8. In London the … of living is very expensive.

9. That ring has great ….

10. That new magazine is certainly … the money.

11. Gold coins are ….

12. His offering … for the apartment was $150,000.

13. We wanted to invest in a new production facility but the … was prohibitive.

14. It … a lot to buy real estate in London.

15. Returned goods can be exchanged for goods of an equivalent ….

Exercises in Comprehension

Ex.1. Answer the following questions:

1. What are costs?

2. Do different businesses have similar cost structures?

3. How can the costs be classified?

4. What are fixed costs?

5. Do variable costs remain unchanged whatever the level of output?

6. What are direct costs related to?

7. What do indirect costs include?

8. What do overheads mean?

9. What are assets?

10. How are fixed assets distinguished from current assets?

11. What are liabilities?

12. How are liabilities classified?

13. What is the difference between long-term liabilities and current liabilities?

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