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Corporation Management

What is Business | Vocabulary | Partnership | Setting up a Small Business | Public and Private Companies | Vocabulary | I. Types of Businesses in the UK | II. Forms of Businesses in the USA | Company Organization in Britain | A Typical President |


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Some specific duties of the board of directors are to declare dividends, authorize contracts, decide on executive salaries, and arrange major loans with banks. Management’s main means of reporting the corporations’ financial position and results of operations is its annual report.

The corporation form of business has several advantages over the sole proprietorship and partnership. It is a separate legal entity and offers limited liability to the owners, ease of capital generation and ease of transfer of ownership. In addition, it allows centralized authority, responsibility and professional management.

The corporation form of business also has several disadvantages. It is subject to greater government regulation and double taxation. In addition, separation of ownership and control may allow management to make harmful decisions.

Notes:

  1. means - способ, средство
  2. entity - организация, предприятие

Задание 1. Найдите в тексте английские эквиваленты следующих слов и словосочетаний.

1. утверждать

2. займы

3. годовой отчет

4. юридическая организация

5. ограниченная ответственность

6. подчиняется

7. единоличный владелец

8. передача собственности

9. принять решение

10. органы государственной власти

Задание 2. Закончите предложения согласно содержанию текста.

  1. The main duties of the board of directors are …
  2. The corporation form of business has …
  3. The corporation form of business is …
  4. The corporation form of business is …
 
    1. a separate legal entity.
    2. some advantages and disadvantages.
    3. subject to a double taxation.
    4. to declare dividends, authorize contracts, arrange loans with banks, etc.
 

Задание 3. Укажите, соответствуют ли данные утверждения содержанию текста

(true / false).

1. Some specific duties of the board of directors are to produce goods and services.

2. Annual report is one of the means of reporting the corporation`s financial position.

3. The corporation form of business offers limited liability to the owners.

4. There are no disadvantages in corporation form of business.

5. Separation of control may allow management to make harmful decisions.

Задание 4. Составьте резюме текста.

This text is devoted to…

The text describes (lists) …

The main idea of the text is …

I found this text …


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