A) the types of companies;
B) their advantages and disadvantages;
C) differences in taxation;
D) industrial and size distribution of companies depending on their legal status;
E) corporate organization.
5. Pick out the idiomatic expressions and give their Russian/ Belarusian equivalents.
Transfer the non-equivalent lexemes into Russian using the corresponding rules.
Text 1
Types of Companies
Business firms are organizations that engage in production; they convert inputs into outputs. But they do much more than this. They rent or purchase buildings, land, machinery, mines and stocks of raw materials. They negotiate with labor unions to set wage rates and conditions of work. They market their products, engage in advertising and promotion, and manage a sales force. They deal with government regulatory bodies and with courts. And to finance their operations, firms deal with banks, insurance companies, investment companies, and with security exchanges.
There are three types of business firms from the point of view of their legal status: proprietorships, partnerships and corporations.
A proprietorship is simply a one-owner firm, with all of the owner’s wealth subject to claim by anyone to whom the firm owes money.
Partnerships are firms owned jointly by two or more persons, with the assets of each and every partner subject to claim by anyone to whom the firm owes money.
Corporations, on the other hand, are business firms that are chartered by a state, have existence as a legal entity independent of the owners of the corporation, and have the characteristic that only the assets of the firm itself are subject to claim by anyone to whom the firm owes money.
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