Toshkent m oliyainstituti

Task 2. Read and retell the text.
A person who starts a sole proprietorship may find that it grows and grows. 
More money must be found to expand the business, and that isn't easy. Banks want 
certain guarantees before they make loans, even to old, successful business. One 
way, then, to expand a business is to add skills and spread out the responsibility by 
forming a partnership. A partnership is a business organization with two or more 
owners who share responsibility.
Starting the partnership has few requirements. Depending on the nature of the 
business, a partnership may need a license. The partners should draw up a 
partnership agreement, a kind of contract in which they declare certain 
understandings between them. For instance, they put into writing how they will share 
the work and profits, how they will end the partnership, and other matters. A written 
agreement from the start may prevent problems later on.
It spells out the duties of each partner so that each knows exactly that responsibilities 
are his or her. Each partner can contribute skills, as well as money, to running the 
business. One advantage of a partnership is that each partner can bring special skills 
to the business. Another advantage is that, unlike sole proprietorships, partnerships 
find it easier to acquire money because there are more owners who can contribute to 
the business. All partners who share in the business have good reasons to work hard 
for its success. Each shares in the profits according to the partnership agreement. 
Like the income of the sole proprietorship, the income of the partnership is taxed 
only once.
Task 3.Give your idea on the topic: “Human resources”

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What is trade and the importance of it?
Task 2. Read and retell the text.
A corporation is a business that is legally regarded as a separate entity. An 
entity is defined as “something that exists independently”. That means that, as far as 
the law is concerned, the corporation exists separate from the people who own it. It 
has a life of its own. As a consequence, owners in a corporation have limited liability. 
With limited liability, the owners are responsible for the debts of the business only 
to the extent of the amount they have invested. Even if the business fails, the owners 
cannot lose more that they have invested. Their personal savings and possessions 
cannot be taken to pay the corporation’s debts. Some corporations have offices and 
plants in more than one country. These are called multinational corporations. Indeed, 
they may operate in several countries.
The original owners of the corporation may decide to issue stock, or shares in the 
ownership. The new owners, called stockholders, pay a certain amount for their 
shares, many buying the stock through a stock exchange. Each stockholder has one 
vote in the management of the corporation for each share of stock he or she owns. 
Most companies hold an annual meeting for stockholders. In addition, they issue an 
annual report giving full information about the year’s activities.Since the owners 
have limited liability, corporation often find it easier to get additional money by 
selling stock. The corporation also has unlimited life. Because it is a legal entity 
quite apart from the owners, the corporation does not end if one or more owners 
decide to sell their shares. Ownership can easily be transferred to new stockholders, 
and the corporation goes on.