purpose                                   aim 

                 sole trader                               propose

                 offer                                        unite 

                 organize                                  stock

                 personal                                  arrange

                 share                                       individual   

Exercise 3. Match the word with the correct definition from the list below:

sole proprietorship, unlimited company, shares (2), partnership, asset, debt, private limited company, limited liability company, stock exchange, shareholder, wealth;

1.  a firm run by two or more partners;

2.  a business owned by one person;

3.  a company in which the owners are entirely liable for the debts of the company;

4.  a company in which the owners are liable only for the amount of money they invested in the business;

5.  a company that may not offer its shares for sale to the public;

6.  a company whose shares can be bought and sold on the stock exchange;

7.  money owed by one person or an organization  to another;

8.  an item of value  belonging to a person or a company;

9.  one of many portions  into which a company’s capital is divided;

10.         a market where stock and shares are bought and sold under fixed rules;

11.         a person who owns shares in a company and, is, therefore, a member of the company;

12.         owing a large amount of money, goods or property.           

Exercise 4. Put an appropriate word in the sentences:

stock exchange, wealth, purpose, shareholders, sole trader, partners, shares, assets, debts, partnership, sole proprietorship. 

1.  The person operating a … … owns the business by his own way.

2.  Formed by two or more persons, the … is considered a business entity. Each partner  is responsible for the … .

3.  All personal … of each partner are at risk if the business falls.

4.  … receive dividends in proportion to the capital they invest.

5.  Being a … … she works long hours in her hairdressing business.

6.  The partnership collapsed as a result of the criminal activities of one of the … .

7.  He has … in Great Britain.

8.  He is a man of great … .

9.  The … of going to school  is to learn .

10.     He workers as a computer operator at the New York … … .

Exercise 5. Answer the following questions:

1. Are all businesses owned and organized  in the same way?

2. What is the simplest form of business ownership?