1.4.1 Answer the questions using your active vocabulary.
1. What is the main topic of the text?
2. What forms of business are described in the text?
3. Why do you think it is relatively easy for sole traders to start their own business?
4. What are the common features of a sole trader and a partnership?
5. Sole traders and partners have limited liability, do not they?
6. What are the main provisions of The Partnership Act of 1890?
7. Why is a company independent of its owners?
8. What is the shareholders’ liability limited to in a company?
9. What is the difference between private companies and public companies?
10. What are the advantages of a company as compared to partnerships and sole traders?
11. What are the disadvantages of a company as opposed to partnerships and sole traders?
12. Why do you think companies have greater opportunities for raising capital and expansion?
- 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.