1.5.1 Match the English word combinations in the left-hand column with the definition in the right-hand column.
1 | liability | A | a company whose shares are not publicly available |
2 | sole trader | B | the system by which shareholders in a company are not liable for its debts beyond the nominal value of their shares |
3 | dividend | C | a person with overall responsibility for decision making in a business, who receives any profits and bears any losses |
4 | limited liability | D | a payment of income by a company to its shareholders |
5 | board of directors | E | a person or company holding shares in a company |
6 | Memorandum of Association | F | the governing body of a company, which appoints the company’s officers |
7 | private company | G | the legal obligation to pay debts |
8 | shareholder | H | a legal document for the report of an agreement that has been reached but not yet formally drawn up and signed |
- 1.1 Starting up
- 1.2 Look through the following vocabulary notes which will help you understand the text.
- 1.3 Reading
- 1.4 Comprehension
- 1.4.1 Answer the questions using your active vocabulary.
- 1.4.2 Mark these statements t(true) or f(false) according to the information in the text. If they are false say why.
- 1.5 Language practice
- 1.5.1 Match the English word combinations in the left-hand column with the definition in the right-hand column.
- 1.5.2 Complete the following text using suitable words or phrases from the box below.