GRAMMAR: Past Simple vs Past Continuous

We use the Past Simple:

*for events or actions in the past: In her youth she worked hard at English.

*for events that happened one after another: I finished my translation and sat down to watch TV.

We use the Past Continuous:

*for actions in progress in the past: I was doing the translation all afternoon.

*for action that was in progress when another action happened (The second action is in the Past Simple): When we came she was interviewing a new secretary.

*for actions in progress at the same time in the past: The strong wind was blowing and it was raining heavily.

 

Ex.1. Choose the correct variant:

1 He became/was becoming a very rich man when he was just 25. 2 The weather was terrible, it rained/was raining the whole day. 3 While Maria was writing the report, Henry looked/was looking for more information. 4 At 7 o'clock this morning she studied/was studying. 5 The student was reading a magazine while the professor spoke/was speaking. 6 Henry ate/was eating a snack at midnight last night. 7 It snowed/was snowing heavily when he was waking up/woke up. 8 He often borrowed/was borrowing from me when we were students. 9 When he was young he was going/went swimming every Sunday. 10 When I was shopping in Richmond Street I saw/was seeing a car accident. 11 I talked/was talking to my boss when you rang. 12 Last year they were dividing/divided their business into two.

Ex.2. Complete these sentences using the correct form of the verbs in brackets:

1 While my brother (study) for his exam, I (translate) a newspaper article into Ukrainian. 2 Tom (write) a letter to his family when his pencil (break). 3 When I (clean) the house, I (find) some old letters. 4 The doorbell (ring) while I (have) a bath. 5 They (build) a new bank when I (be) there last year. 6 My friend (own) this company but the state (buy) it and (bring) into public sector. 7 I (phone) my parents when the door bell (ring). 8 We (not hear) the phone because we (sing). 9 During his visit to Switzerland he (go) skiing every weekend. 10 While he (watch) TV he (hear) a loud cry for help.

Ex.3. Correct the mistakes where necessary:

1 As a child I never was staying up later than ten o'clock. 2 He was probably working in the office when we rang. 3 She talked to someone on the phone when I came. 4 I tried to learn the rule while someone outside played the guitar. 5 French hypermarket companies were beginning their operations in the Spanish retail sector. 6 Public sector pay was rising by only 3 per cent last year. 7 Analysts predicted continued growth in the service sector last month. 8 Many people in the private sector were having to take very low pay increase last year. 9 With a degree in business studies, she was hoping to find work in a multinational corporation. 10 In an effort to improve its image, the company launched a new public relations campaign.

Ex.4. Translate into English:

1 Вони дивилися телевізійну програму, коли прийшла Сюзан і розповіла їм останні новини. 2 Англія закупила товарів на £ 2 мільйони минулого місяця. 3 Він не виконав роботу вчасно і залишився в офісі закінчити її. 4 Його родина приватизувала кілька супермаркетів нашого міста два роки тому. 5 Він припинив постачати обладнання для нашого заводу минулого року. 6 Вона прилетіла в Київ о десятій ранку і одразу зателефонувала на фірму. 7 Ми добре навчилися реагувати на зміни в попиті наших клієнтів, коли намагалися стати лідером у секторі послуг. 8 Я вчора запізнився на важливу зустріч.

Ownership

 

join   purpose unlimited liability company limited liability company   be liable (for) debt assets sole trader/proprietorship (general) partnership

об'єднуватися, приєднуватися мета компанія з необмеженою відповідальністю компанія з обмеженою відповідальністю бути відповідальним (за) борг; зобов'язання майно, активи одноосібна власність товариство

private limited company (BrE) / limited liability company (AmE) public limited company (BrE) / listed company (AmE) shareholder share wealth offer (v) public stock exchange

закрита акціонерна компанія   відкрита акціонерна компанія з обмеженою відповідальністю акціонер акція багатство пропонувати громадськість фондова біржа

 

A business is an organization of material, human, financial, and information resources that are joined together for a specific purpose. Not all businesses are owned and organized in the same way.

In unlimited liability companies the owners are personally and entirely liable for the debts of the company. This means they may lose their personal assets (e.g., their house or their car) if the company is in financial difficulties.

In a limited liability company (Ltd.) the owners are liable only for the amount of money they have invested in the business.

Unlimited liability companies are subdivided into sole traders (BrE) / sole proprietorship (AmE) (a type of business organization owned and run by one person) and partnership (BrE) / general partnership (AmE) (a firm run by two or more partners).

Limited liability companies are subdivided into private limited companies (BrE) / limited liability companies (AmE) and public limited companies (BrE) / listed companies (AmE). A private limited company/limited liability company is a company which has shareholders (people who own the wealth of a company) but which cannot offer its shares to the public.

A public-limited company / listed company is a company whose shares can be bought and sold on the stock exchange. A public limited company is privately owned. It is not run by the state.

 

1 Are all businesses owned and organized in the same way? 2 What is the simplest form of business ownership? 3 What are the owners liable for in unlimited liability companies? 4 What are the owners liable for in a limited liability company? 6 What is a partnership? 7 What are limited liability companies subdivided into? 8 What is a private limited company? 9 What is a public limited company? 10 Is a public limited company privately or state-owned?

 

1 Match words that have a similar meaning:

join purpose sole trader public limited company offer organize personal share

 

sole proprietorship listed company propose aim unite stock arrange individual

 

2 The words in the box frequently occur after "debt". Find combinations that mean:1) a person employed to recover money owed by a person or an organization; 2) paying loans back to the lender; 3) renegotiating the form of debts; 4) renegotiating the dates that debts are to be repaid; 5) the overall amount of an organization's debt; 6) a period when a debtor is having trouble repaying their debts.

 

3 Match the words and phrases in the box with the correct definition: 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 have 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

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 stocks 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) (owning) a large amount of money, goods or property.

4 Choose the correct word from the box to complete the gaps. Translate the sentences into Ukrainian:

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

1 The person operating a......owns the business in his or her own name. 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 fails. 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 British Gas. 8 He is a man of great.... 9 The... of going to school is to learn. 10 He works as a computer operator at the New York.......

5 Fill in the missing prepositions: (on, by, of-2, to-2, in-2, for, within)

The limited liability company provides a framework... which a business can operate effectively. A limited company is usually the best vehicle... business. Shareholders inject capital and receive a return... proportion to the capital they invest. They are eligible to attend an annual general meeting... approve or otherwise the way the directors are running the business. Annual general meetings also determine how much... the profit will be distributed... shareholders.

Control... the company is... the hands of directors who are appointed... the shareholders to run the company... their behalf.