VII. Copy paragraphs 1-2 and translate them into Ukrainian in writing

VI. Complete the following sentences with the proper types of the predicates, following the rule of the sequence of tenses. Write them down and translate into Ukrainian.

Model: It was declared as a fact that internationalism (will help, would help,

helps) to solve many social problems.

It was declared as a fact that internationalism would help to solve many social problems. would help - future indefinite-in- the past

Було заявленояк факт, що інтернаціоналізм допоможе вирішити багато соціальних проблем.

1. I know that all financial documents (are signed, have signed, have been signed).

2. The secretary said that they (will get, would get, get) credit reference letter in two days.

3. We were promised that they (will fulfil, will be fulfilled, would have fulfilled) our order by the following week.

4. I didn’t know that both companies (were acted, were acting, act) on mutually beneficial terms.

Notes:

¹ public company – відкрите товариство

² to raise money – залучити гроші

³ to buy into – купувати на аукціоні акціі для вступу у

компанію

⁴ limited liability – обмежена відповідальність

Company

1. A company is an organization legally allowed to produce and trade. It is owned by its shareholders who appoint directors to control its operations. Ownership is divided among the shareholders. The original shareholders are the people who started the business, but now they have sold shares of the profits to outsiders. By selling these entitlements to share in the profits, the business has been able to raise new funds. For public companies these shares can be resold on the stock exchange to anyone prepared to pay the going price. Trading on the stock exchange, reported in most daily newspapers, is primarily the sale and resale of existing shares in public¹ companies. However, even the largest company occasionally needs to issue additional new shares to raise money² for especially large projects. To buy into a company³, a shareholder must purchase shares on the stock exchange at the equilibrium share price, which just balances buyers and sellers of the company’s shares on that particular day. In return for this initial outlay, shareholders earn a return in two ways. First, the company makes regular dividend payments, paying out to shareholders that part of the profits that the firm does not wish to reinvest in the business. Second, the shareholders may make capital gains (or losses).

2. The shareholders of a company have a limited liability⁴. The most they can lose is the money, they originally spent buying shares. Unlike sale proprietors and partners, shareholders cannot be forced to sell their personal possessions when the business is unprofitable.

3. Companies are run by boards of directors. The board of directors makes decisions about how the firm is run but must submit an annual report to the shareholders. At the annual meeting the shareholders can vote to sack the directors, each shareholder having as many votes as the number of shares owned. Companies are the main form of organization of big businesses.

VIII. Copy the following statements on paragraph 3 and mark with “T” if the statement is true or “F” if it is false.

1. A company is run by a director.

2. The director makes decisions on the activity of the company.

3. The directors can be sacked.

4. A company is a major organizational form of business.

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