Task 3. Fill in the blanks using the word combinations given below, translate the letter

Letter 1.

Dear Sirs,

We (1)______ to inform you that terms of payment (2)______ .

(3)_______ we discussed the proposed method of payment with our partners. We are pleased to confirm that this matter (4)______ . Please, (5)______ that we did not pay the account in time. We (6)______ that our firm will pay the debt on the 5^th of May at the latest.

Faithfully yours,

a. can assure you;

b. following your instructions;

c. are acceptable for us;

d. has been settled;

e. take this opportunity;

f. accept our apologies.

Letter 2.

Dear Sirs,

We authorized (1)______ in your country to sign an addendum to our contract providing for the change in (2)______ . The above addendum (3)_______ on the 10^th of June this year.

We (4)_____ us at the earliest convenience when the bank guarantee (5)______ and also let us have your consent to (6)______ .

We are looking forward to your reply.

Faithfully yours,

a. will be submitted;

b. the original method of payment;

c. covering the storage expenses;

d. our trade representative;

e. was signed;

f. urge to advise.

Task 4. Choose the correct variant.

1. Logistics is mostly associated with the … of goods from one place to another.

a) travel

b) transport

c) export

d) import

2. … of real brands or genuine goods in China are facing a smaller challenge than you might expect.

a) merchandisers

b) dealers

c) sellers

d) buyers

3. Is the new hotel much … than the old one.

a) the farthest

b) far

c) the farther

d) farther

4. Lately, Austin … about changing his career because he … dissatisfied with the conditions at his company.

a) has been thinking, has been

b) has thought, has been

c) thinks, is

d) was thinking, had been

5. Mr. Brown … to give details of his bank account yesterday.

a) made

b) has made

c) was made

d) is being made

6. He asked her when she … to take her vacation.

a) wants

b) would want

c) wanted

d) want

7. He … master English if he studies hard.

a) will be able to
b) can not

c) shouldn’t

d) may not

8. If we … more money to spend, we would be more interested.

a) have

b) have had

c) had

d) had had

9.The protest wouldn’t have been as affective, if it … on the news.

a) didn’t appear

b) appeared

c) hadn’t appeared

d) wouldn’t appear

10. They are very interested in … our new products.

a) buy

b) to buy

c) bought

d) buying

LESSON 8

Task 1. Complete the text with the words in the box.

1. capital	5. financing	9. success	13. finance	17. money
2. growth	6. manag­ing	10. business	14. funds	18. arrangement
3. expenses	7. enterprises	11. expand	15. needs	19. assets
4. investment	8. uses	12. insurance	16. production	20. competition

Financing a Company

Meeting the ( 1 ) of small and medium ( 2 ) is important for the development of a viable local private sector.

When going into business, ( 3 ) is one of the most important factors. Without sufficient funds a company cannot begin operations. The money needed to start and continue operating a business is known as ( 4 ). A new ( 5 ) needs capital not only for ongoing expenses but also for purchasing necessary ( 6 ). These assets - inven­tories, equipment, buildings, and property - represent an ( 7 ) of capital in the new business. Capital is also needed for salaries, credit extension to customers, adver­tising,

( 8 ), and many other day-to-day operations. In addition, ( 9 ) is essential for ( 10 ) and expansion of a company. Because of ( 11 ) in the market, capital needs to be invested in developing new product lines and ( 12 ) techniques and in acquiring assets for future expansion.

How this new company obtains and ( 13 ) money will, in large measure, determine its ( 14 ). The process of ( 15 ) this acquired capital is known as financial management. In general, ( 16 )is securing and utilizing capital to start up, operate, and ( 17 ) a company. In financing business operations and expansion, a business uses both short-term and long-term capital. A company utilizes short-term capital to pay for salaries and office ( 18 ) that last a relatively short period of time. On the other hand, a company seek long-term financing to pay for new assets that are expected to last many years. When a company obtains capital from external sources, the financing can be either on a short-term or a long-term ( 19 ). Generally, short-term financing must be repaid in less than one year, while long-term financing can be repaid over a longer period of time.

Finance involves the securing of ( 20 ) for all phases of business operations. In attracting and using this capital, the decisions made by managers affect the overall financial success of a company.