Ex.8. Combine two parts logically to make complete sentences.

Ex.7. Choose the appropriate word or phrase to complete the following sentences.

Ex.6. Fill in the gaps in the following verb collocations with appropriate prepositions or adverbs.

To base the choice _____ one’s vision; to have responsibility _____ running the business; to adapt _____ changes; to place special tax _____ corporations; to distinguish _____ the business and its owners; to admit potential partners _____ the partnership; to attract prospective employees _____ the business; to be created _____ the government charter; to be subject _____ double taxation.

Shareholders, flexible and adaptable, drawback, corporate tax, dividends, share the ownership, advantages and disadvantages, securities, sole proprietorships, a board of directors, unlimited liability, choosing its structure, a government charter.

1. One of the most important decisions to be made in organizing a new business is __________ .

2. Different forms of business organisations – sole proprietorships, partnerships and corporations – have their __________ .

3. Most small businesses start out as __________ .

4. A sole proprietorship is __________ to changing times.

5. A sole proprietor has __________ for his business’s debts.

6. In a partnership, partners __________ of a single business.

7. A partnership does not pay __________ like corporations.

8. A serious __________ of partnerships is the threat of potential disagreement among partners.

9. The owners of a corporation are its __________ .

10. The shareholders elect _________ to oversee the major policies and decisions.

11. Corporations have wider opportunities to raise capital through selling its ____ .

12. Corporations are to be created under __________ .

13. In addition to corporate tax, income tax is levied on shareholders’ __________.