BUSINESS AND ITS FORMS OF ORGANIZATION
Упражнение 1 Переведите термины на русский язык.
1. want (n.) + advertising
2. annual meeting of the stockholders
3. articles / articles of incorporation / of partnership
4. asset
5. bargain price
6. Board of Directors
7. bond
8. borrower
9. capital-gains tax law
10. chairman of the board of directors
12. claim
13. company’s morale
14. debt capital
15. decision making
16. double taxation
17. equity (ownership) capital
18. exchange/ security exchange stock exchange
19. executives
20. federal corporate income tax
21. fee
22. file/to file
23. flat income tax scale
24. fraction of income
25. goodwill of the company
26. government regulatory bodies
27. income sharing rules
28. income tax / income tax bracket / progressive personal income tax / total income tax
29. income / average income / marginal income / price-tax income / after-tax income
30. input
31. insider
32. insurance companies
33. International Revenue Code
34. inventory
35. investment funds
36. issuance of stock
37. lawsuit
38. lender
39. liability
40. life span of the business
41. output
42. partnership
43. profit / gross profit / net profit
44. promotion
45. proprietorship
46. public limited company
47. receipts
48. retail trade
49. sales force
50. shareholder / stockholder
51. stock options
52. stock purchase agreement
53. subject to (to be)
54. “takeover” bid
55. tax rate
56. tax status
57. to allocate
58. to charter
59. to market
60. wage rate
61. wholesale trade
Упражнение 1 Прочитайте и сделайте перевод текста с листа.
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, exist as a legal entity independent of the owners of the corporation, and characterised by that only the assets of the firm itself are subject to claim by anyone to whom the firm owes money.
Advantages and Disadvantages of Various Business Forms
The basic advantages and disadvantages of a corporate form versus a proprietorship or partnership can be summarized in terms of the following matters:
1) ease of organization;
2) ease of raising equity (ownership) capital;
3) ease of raising debt capital;
4) tax status;
5) life span of the business.
Ease of Organization
To form a partnership, one simply goes into business. With a partnership, articles of agreement as to partnership duties, responsibilities, and sharing of profits are usually signed in order to avoid future disagreements and lawsuits, but this is not legally required. In order to incorporate articles of incorporation must be filed by a state government and applications made to states in which the corporation will do business. This requires legal assistance as well as various fees. It is considerably easier to start a business as a proprietorship or partnership than as a corporation.
Ease of Raising Equity Capital
Ease of raising equity capital is the major advantage of a corporation. It is much easier to persuade someone to invest in your business as a co-owner if that individual knows the most that can be lost is what has been invested rather than having all, the individual assets subject to claim for business debts, as occurs with a proprietorship or partnership.
Ease of Raising Debt Capital
Clearly the other side of the coin raising investment funds is concerning is the problem of borrowing money, that is raising debt capital. Lenders should be less willing to lend to a firm with limited liability for its owners (a corporation) than to one where the personal assets of the owners are subject to claim. Thus, everything else being equal, corporations find it harder to raise debt capital than, say, proprietorships.
|
|
|
Дата добавления: 2019-09-13; просмотров: 589; Мы поможем в написании вашей работы! |
Мы поможем в написании ваших работ!