Toshkent m oliyainstituti

Task 2. Read and retell the text.
Without businesses, we could not meet our wants and needs. They provide 
the organization for producing goods and services efficiently and in large quantities. 
They have given our consumers one of the highest standards of living. A sole 
proprietorship is a business or firm owned by one person. Sole proprietorships are 
often found in businesses offering services to consumers. Examples of sole 
proprietorships are clothing shops, travel agencies, florists, TV repair shops, and so 
on.
The sole proprietorship has several advantages. First, it is simple to start. Depending 
on local laws, the only requirement for starting a sole proprietorship may be a 
license. Second, because the business is owned by one person, that person is free to 
do as he or she pleases. When you are sole proprietor, you are the boss. No one tells 
you how to run your business. The third advantage is that you receive all of the 
profits. You have good reason to work hard for all of those benefits. The fourth 
advantage comes when the sole proprietor is paying taxes. A sole proprietor pays 
taxes only once on the income from the firm.
A sole proprietorship has some disadvantages, too. Although a sole proprietorship 
may be easy to start, its owner may have trouble getting money.
Maybe you have to dip into savings or borrow money from a bank. Friends may 
come through with a loan - although you may have to pay interest on it. A shortage 
of money is a common problem for sole proprietorship because they depend on the 
resources and abilities of just one person. Another disadvantage of the sole 
proprietorship is that the business ends when the owner leaves.
Task 3.Give your idea on the topic: “Accounting and financial statements”

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What is demand and supply in an economy?