Conta in Engleza PDF

Ozana STRĂUŢ Manuela STĂICUŢ
ENGLEZA PENTRU
CONTABILITATE
Coperta:
Descrierea CIP a Bibliotecii Naţionale a României

Timişoara: ; 2009
Bibliogr.
ISBN: 978-973-687-859-6
UNIVERSITATEA TIBISCUS TIMIŞOARA
Facultatea de Ştiinţe Economice
Asist. Ozana STRĂUŢ

Asist. Manuela STĂICUŢ
ENGLEZĂ PENTRU
CONTABILITATE
Note de curs pentru uzul studenţilor de la ÎFR
TIMIŞOARA
2009
CUPRINS
TEMA 1 - CE ESTE CONTABILITATEA ŞI CUM

FUNCŢIONEAZĂ?......................................................................................4
UNIT 1 - WHAT IS ACCOUNTING AND HOW DOES IT WORK? ...4
1.1. READING & SPEAKING ..................................................................4
1.2. BASIC VOCABULARY.....................................................................6
1.3. TESTE DE EVALUARE ....................................................................7
TEMA 2 - PRINCIPALELE REGISTRE CONTABILE.........................9

UNIT 2 - THE BASIC ACCOUNT BOOKS..............................................9
2.1. READING & SPEAKING ..................................................................9
2.2. BASIC VOCABULARY...................................................................10
2.3. TESTE DE EVALUARE ..................................................................11
TEMA 3 - ECUAŢIA FUNDAMENTALĂ A PATRIMONIULUI .......13

UNIT 3 - THE BASIC ACCOUNTING EQUATION.............................13
3.1. READING & SPEAKING ................................................................13
TEMA 4 - PRINCIPALELE TIPURI DE SOCIETĂŢI COMERCIALE

......................................................................................................................18
UNIT 4 - MAIN TYPES OF BUSINESS ORGANIZATIONS ..............18
TEMA 5 - CONTUL. DEBIT ŞI CREDIT...............................................23

UNIT 5 - THE ACCOUNT. DEBIT AND CREDIT ...............................23
TEMA 6 - BILANŢUL CONTABIL.........................................................28

UNIT 6 - THE BALANCE SHEET ..........................................................28
TEMA 7 - VENITURI................................................................................33
UNIT 7 - INCOME .....................................................................................33
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TEMA 8 - TAXELE ...................................................................................38
UNIT 8 - TAXES ........................................................................................38
TEMA 9 - CONTUL DE PROFIT ŞI PIERDERE..................................43

UNIT 9 - PROFIT AND LOSS ACCOUNT.............................................43
TEMA 10 - DOCUMENTELE ÎN AFACERI .........................................48

UNIT 10 - BUSINESS DOCUMENTS .....................................................48
10.1. READING & SPEAKING ..............................................................48
10.2. BASIC VOCABULARY.................................................................50
10.3. TESTE DE EVALUARE ................................................................52
REVISION ..................................................................................................54
BIBLIOGRAFIE ........................................................................................61
2
Aducem deosebite mulţumiri d-şoarei Ghiţiu Andreea Oana pentru
realizarea ilustraţiilor. Mulţumim totodată Irinei Duran pentru consultanţă
de specialitate.
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TEMA 1 - CE ESTE CONTABILITATEA ŞI CUM
FUNCŢIONEAZĂ?
UNIT 1 - WHAT IS ACCOUNTING AND HOW DOES IT
WORK?
~ A Tough Decision ~
OBIECTIVE
- Cunoştinţe generale, în limba engleză, despre contabilitate;
- Introducerea şi însuşirea unor definiţii, termeni şi structuri lexicale
specifice domeniului.
REZUMAT
În cadrul acestui lecţii introductive sunt prezentate câteva definiţii de
bază şi cei mai uzuali termeni de specialitate pentru însuşirea terminologiei
contabile în limba engleză.
1.1. READING & SPEAKING
A long, long time ago, in a faraway village, there lived a wealthy old
man. The old man hadn’t been wealthy all of his life. He started off with a
little house, two acres of land, three cows and a donkey. His family’s
background had always been farming. They had known more prosperous
times before, as his great grandfather had been one of the richest and most
respected farmers of the region, but then the war came and his grandfather
lost everything. So his father had to start from scratch and it was only by
hard work that he managed to leave him as little as he did. But what he
inherited from his father was of greater value than any material goods: it
was his strong will, his ambition and determination. These qualities, along
with good business skills, enabled him to achieve the former reputation of
his great grandfather and even greater wealth, as he had become the first
owner of a milk factory in his village.
As he got old, the old man decided to pass his business over to one
of his two sons. But which one of them? He had prepared both his sons for a
future business career. He always took them along to the factory and
explained everything they needed to know about the way things were done,
and he had sent them both abroad to a business school where they
specialized in management. Both of them were intelligent, well prepared
and competent. So the old man found himself in a very difficult position.
How could he possibly choose?
He spent very much time giving this matter a lot of thought and
finally he came up with a decision: he thought of a test for his two sons.
So that night over dinner, he told them:
“This is my test for you: each of you will have to take a course in a field that
you consider vital for running a business. At the end of your courses you
will come to me and explain why you think that the field you have chosen
will enable you to be the best manager for the business.”
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Time went by and the two sons finished their courses.
The old man asked his older son:
“What course have you chosen and why?”
“Well, I’ve chosen a course in the field of business legislation because I
think that for a good manager it is vital to know all the laws and
regulations of the business environment.”
And then he asked his younger son the same question.
“I’ve chosen a course in the field of accounting because accounting is the
system a company uses to measure its financial performance by noting
and classifying all the transactions (sales, purchases, assets, liabilities).
It helps to evaluate a company’s past performance, present condition, and
future prospects.”
“Do you think your choice was better than your brother’s?”
“No. In fact I believe both fields are equally important.”
Then the old man asked his other son:
“What do you think?”
“I think my brother’s right.”
And then a big smile showed up on the old man’s face:

“Well my sons, I can finally rest in peace. This was my final test for you and
I’m proud to say you both did an excellent job. You will share this
company and I’m sure that by working together you’ll be able to continue
my work and achieve even greater success in the years to come!”
ANSWER THE FOLLOWING QUESTIONS:
1. Who was the richest person in the old man’s background?

2. What happened after the war?
3. What did the old man inherit from his father?
4. What business did the old man own?
5. What was his dilemma?
6. What test did he come up with?
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7. What were the two choices of his sons?
8. What did the old man finally decide?
1.2. BASIC VOCABULARY
Accounting vs. bookkeeping
Bookkeeping is the process of recording accounting information for a

company according to a standard set of steps.
Therefore, bookkeeping is only a phase of the accounting process, namely

the recording phase. And so a person who understands bookkeeping does
not necessarily know accounting, but an accountant must always possess a
good knowledge of bookkeeping.
Financial accounting vs. managerial accounting
Financial accounting provides accounting information for external users in

their various decisions.
Managerial accounting provides accounting information for internal users
in their managerial decision-making.
accounting = contabilitate
bookkeeping = ţinerea registrelor contabile
accountant = contabil
chartered accountant (UK) = expert contabil
certified public accountant (USA) = expert contabil
financial performance = performanţă financiară
transaction = tranzacţie
to sell = a vinde
sale = vânzare
to purchase = a achiziţiona
purchase = achiziţie
assets = active
liabilities = pasive
wealth = avere
wealthy = bogat
prosperous = prosper
prosperity = prosperitate
rich = bogat
to inherit = a moşteni
inheritance = moştenire
heir / heiress = moştenitor / moştenitoare
business skills = abilităţi pentru afaceri
owner = proprietar
to own = a deţine
factory / plant = fabrică
career = carieră
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field = domeniu
1.3. TESTE DE EVALUARE
1. Say whether these statements are true (T) or false (F) according to the
text.
a. The old man’s family background had always been real estate.
b. The old man had become the first owner of a milk factory in his
country.
c. As he grew old, the old man decided that one of his two sons should
inherit his business.
d. The two sons were equally well prepared to take over the business.
e. The old man decided to make a choice after testing their knowledge in
the field of management.
f. His first-born chose a course in the field of business legislation.
g. His youngest son thinks that accounting is more useful for running a
business than business legislation.
h. The old man decided that both his sons should inherit his business.
2. Match the following words with their explanations in the column on the
right:
1. career a. make an acquisition

2. heir b. area of study
3. owner c. what grows on our heads
4. field d. somebody who inherits
something
5. inheritance e. profession
6. hair f. someone who has the right of
property over something
7. bookkeeping g. what somebody receives, usually
after the death of a relative
8. purchase h. the process of recording
information in account books
3. Complete the following table:
Verb Adjective Noun

to finance Finances
wealthy
Prosperity
to inherit
Owner
4. Translate into Romanian:
1. He has just employed an accountant for our corporation.
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2. I don’t know the difference between financial and managerial
accounting. Could you please explain it to me?
3. You should search for all those accounting terms in a business
dictionary.
4. It is obvious that they didn’t learn for their accounting exam since
both of them received poor grades two days ago.
5. I don’t know whether I could work in this field.
5. Translate into English:
1. Care este momentul oportun pentru vânzarea pasivelor unei societăţi?

2. Profesia de contabil presupune exactitate, răbdare şi perseverenţă.
3. Vânzarea reprezintă principala prioritate a fiecărui producător.
4. În această fabrică lucrează peste 500 de angajaţi.
5. Avem nevoie de un expert contabil pentru soluţionarea acestei situaţii
.
6. Make up sentences with the following words and phrases: land, to start
from scratch, value, goods, reputation.
7. Work in pairs. Use your dictionaries. Find at least a synonym for: owner,
field, manager, inheritance and success.
8. Practice
Would you like to be an accountant? Motivate your answer.
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TEMA 2 - PRINCIPALELE REGISTRE CONTABILE
UNIT 2 - THE BASIC ACCOUNT BOOKS
~ An Accountant’s Job ~
OBIECTIVE
Însuşirea vocabularului englezesc legat de :
- activitatea directă a unui contabil;
- utilizarea expresiilor specifice legate de întocmirea registrelor
contabile.
REZUMAT
Această lecţie conţine un dialog legat de activitatea contabilă, în care
apar structuri şi noţiuni referitoare la registrele contabile.
Lilly is in the seventh grade. One of her assignments for tomorrow is

to talk about her parents’ professions. So here she is now, at the dinner
table, talking to her mom:
“Listen, mom. Tomorrow at school I have to talk about my parents’ jobs. I
know that dad’s a doctor and he cures people and I also know that you are
an accountant. But what I don’t know is what you actually do as an
accountant. So what do you normally do at work?”
“Well, some of my attributions are to produce financial statements, to draw
up cash flow forecasts, to audit accounts of organizations, to prepare tax
returns, to calculate production costs and overheads.”
“What does it mean ‘to audit’ accounts?”

“It means to verify their accuracy.”
“Ok. Tell me more.”
“To be able to produce these financial statements, I rely on the recording of
transactions in account books. Recording these transactions in account
books is called bookkeeping and this is a branch of accounting.”
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“And what kind of account books are there?”
“First of all, there are books of prime entry in which transactions are
recorded in the order in which they are made. These can be cashbooks,
daybooks or journals. Later the transactions are posted to the ledger.”
“And what is this ledger?”
“It is the most complete account book, showing all transactions of a
company and their result. It is a book that contains all the accounts of a
company using double-entry bookkeeping. But I have to tell you that
nowadays most companies use computer-stored information instead of the
classical ledger. Do you understand, dear?”
“Yes, I do. But please explain to me the concept of double-entry
bookkeeping.”
“Well, according to the double-entry bookkeeping system, each transaction
is entered twice.”
“What do you mean?”
“Well, there are two sides for each account: the left side, called the debit
side, and the right side, called the credit side. And the basic rule is that the
debit side and the credit side of an account should always be kept in
balance.”
“Ok mom. But how do you actually register a transaction?”
“Well, each entry is based on vouchers.”
“What are those?”
“They are documents justifying a payment made and they can be invoices
and receipts.”
“Please explain.”
“The invoice is a document stating the amount due for some goods or
services supplied. It gives a description of the goods, states delivery and
shipment details, terms of payment, alongside of unit price and total
price. And the receipt is a confirmation of a payment made.”
“Ok. I think you’ve told me quite enough. Thanks a lot, mom!”
1. What is Lilly’s assignment for tomorrow?

2. What are some of her mother’s attributions?
3. What does it mean to audit accounts?
4. Which are the books of prime entry?
5. Which is the most exhaustive account book?
6. What is each entry based on?
7. What is an invoice?
8. What is a receipt?
The Basic Account Books
books of prime entry = documente primare

cash-book = registru de casă
daybook = registru de gestiune
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journal = jurnal
ledger = cartea mare
financial statements = documente financiare

cash flow = flux de numerar
to forecast = a previziona
forecast = previziune
to audit = a efectua un audit, a verifica
audit = audit
tax return = declaraţie de impozit
production costs = costuri de producţie
overheads = cheltuieli de regie, cheltuieli indirecte
to record = a înregistra
to record a transaction = a înregistra o operaţiune
account book = registru contabil
bookkeeping = ţinerea registrelor
branch = ramură
to post = a trece dintr-un registru contabil în cartea mare
voucher = document justificativ, dovada efectuării unei plăţi
invoice = factură
receipt = chitanţă
amount = sumă, total, cantitate, valoare
to deliver = a livra
delivery = livrare
shipment = expediere, transport
terms of payment = termene de plată
unit price = preţul pe unitate
total price = preţul total
text:
a. Lilly is in the eleventh grade.

b. Lilly’s mother is a doctor and her father is an accountant.
c. In books of prime entry transactions are recorded in chronological
order.
d. The ledger isn’t a book of prime entry.
e. Nowadays very few companies use computer-stored information.
f. According to the double-entry bookkeeping system, each transaction
is entered twice.
g. The left side of an account is called the credit side and the right side
of it is called the debit side.
h. Invoices and receipts are generally called vouchers.
right:
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1. forecast a. the price charged per item
2. production costs b. the account book that shows all the transactions of
a company and their result
3. bookkeeping c. documents justifying a payment made
4. ledger d. all the expenses made in order to manufacture
something
5. vouchers e. confirmation of a payment made
6. unit price f. predict
7. total price g. the total amount due for all items
8. receipt h. recording transactions in account books
Verb Noun
to audit
production
to deliver
1. It would be best if they complied with the terms of payment.

2. This is the last day of delivery. You have to hurry up!
3. There is quite a difference between invoice and receipt. I thought you
already knew that.
4. I need to deliver these packages to this address, but I can’t find it. Do
you know where it is?
5. The term bookkeeping refers to registering information in account
books.
1. Costurile de expediere pentru acest bagaj sunt de 50 Ron.

2. Toate operaţiunile sunt înregistrate în registrele contabile.
3. Acesta este preţul total al mărfurilor care vor fi fi exportate.
4. Am nevoie de toate detaliile legate de transportul acestor bunuri.
5. Bilanţul contabil se depune numai după ce a fost certificat de o firmă
de audit.
6. Write sentences with 5 words in the vocabulary section.
7. Work in pairs. Use your dictionaries. Find at least a synonym for:

voucher, financial, amount, branch, and transaction.
8. Practice
Write down several words related to the word “job”. Make up short
sentences with them.
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TEMA 3 - ECUAŢIA FUNDAMENTALĂ A
PATRIMONIULUI
UNIT 3 - THE BASIC ACCOUNTING EQUATION
~ Forest Business ~
OBIECTIVE
Cunoaşterea terminologiei specifice în limba engleză referitoare la:
- ecuaţia fundamentală a patrimoniului;
- relaţia manager-firmă-bancă.
REZUMAT
Lecţia urmăreşte însuşirea vocabularului englezesc legat de
înfiinţarea unei firme, metodele de procurare a fondurilor necesare
(economii, împrumuturi) şi relaţia manager-firmă-bancă.
One day, the rabbit decides to start his own business. He’s got the
idea, he’s got some savings, but he’s got no clue about the way to get things
going. So he goes to the owl, the forest accountant and financial
consultant.
“What brings you by on such a fine day, rabbit?”
“Well, I’ve been thinking about opening a fitness center and I don’t know
were to start and what to do.”
“You’ve come to the right person, rabbit. How much money do you think
you need?”
“I think I might need about € 100,000.”
“Have you got any money?”
“Yes, but only € 40,000.”
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“Well, first you’ll have to go to the bear, the forest banker, and make a loan
for the other € 60,000. Then you must think about the headquarters. Do
you have your own location?”
“No, I’m afraid I’ll have to rent it. You know, I thought of that old
warehouse that the snake inherited from his late uncle. He really doesn’t
use it. I’ll talk to him about it.”
“You do that. Have you thought about hiring some personnel?”
“Well, not for the moment. I’ll try to do everything myself until I get things
going.”
“Oh, and one more thing: you need to go to the lion, the forest mayor, and
take care of the necessary papers and authorizations. And you should
also see the fox, the forest lawyer, for some legal advice about finding and
registering your company name.”
“Ok. I’ll do all that. But can you please explain to me how such a business
works, from an accountant’s point of view?”
“Well, let me see… First of all, your resources are considered the assets of
the company. Now, we know that you’re not fully financing your
business. Your share of the business is called shareholder’s equity, while
all that the company owes (the loan from the bear, the rent to the snake
etc.) are considered the liabilities of the company. Is it clear so far?”
“Crystal clear.”
“Ok. Now, the assets of a company are divided in two categories: current
assets and fixed assets. Current assets are those that can be easily
converted into cash in one year’s time, like liquid assets, funds readily
available deposited in current accounts, treasury bills, marketable
securities, certificates of deposit, accounts receivable etc. Fixed assets
include tangible assets used in the operating cycle of the business, such
as buildings, land etc. We could also include here some intangible assets
that cannot be easily turned into cash, like patents, copyrights etc. As for
liabilities, as I said before, that’s what the company owes to people /
corporations outside the entity, such as the company’s obligations to
supply money, goods or services to other parties. Liabilities can also be
divided in two broad categories: current liabilities and long-term
liabilities. Current liabilities are those that must be paid within one year,
such as accounts payable, taxation payable etc. Long-term liabilities are
those that must be paid at some distant time, like long-term borrowings,
mortgages etc.”
“Owl, you lost me. I’ll just go do some of the tings you told me and come
back later for further explanations.”
“Well, good luck!”
1. What is the rabbit’s idea?

2. Who does he turn to for advice?
3. How much money has the rabbit got and how will he get the
remaining amount?
4. What will he do about the headquarters?
5. What are current assets?
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6. What are fixed assets?
7. What are current liabilities?
8. What are long-term liabilities?
The Basic Accounting Equation

Ecuaţia fundamentală a patrimoniului
ASSETS = OWNER’S EQUITY + LIABILITIES
BUNURI ECONOMICE = CAPITALURI PROPRII + DATORII
savings = economii
to save money = a economisi bani
financial consultant = consultant financiar
to finance = a finanţa
bank = bancă
banker = bancher
headquarters = sediul unei societăţi
to rent = a închiria
rent = chirie
warehouse = deposit
personnel / staff = personalul angajat
mayor = primar
town hall / city hall = primărie
papers = acte / documente
to authorize = a autoriza
authorization = autorizaţie
authorized = autorizat
shareholder’s equity = capitaluri proprii
assets = active
current assets = active circulante
fixed assets = active imobilizate
liquid assets = lichidităţi
tangible assets = active corporale
intangible assets = active necorporale
current account = cont curent
to deposit money into an account = a depune bani într-un cont
to withdraw money from an account = a retrage bani dintr-un cont
to make a withdrawal = a face o retragere
treasury bill = bon de tezaur
securities = titluri de valoare
certificate of deposit = certificate de depozit
accounts receivable = contruri debitoare
accounts payable = conturi creditoare
patent = brevet
copyright = drept de autor
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entity = entitate
operating cycle = ciclul de exploatare
to supply = a furniza
supplier = furnizor
liabilities = datorii / obligaţii către terţi
current liabilities = datorii pe termen scurt
long-term liabilities = datorii pe termen lung
taxation payable = impozite de plătit
long-term borrowings = împrumuturi pe termen lung
mortgage = ipotecă
to own = a deţine
to owe = a datora
text:
a. The rabbit doesn’t have any savings, so he goes to the forest

accountant and financial consultant (the owl) to lend him some
money.
b. The rabbit needs 100,000 euros to start his fitness center.
c. He’s only got 60,000 euros.
d. Authorizations can be obtained from the lion, the forest mayor.
e. In accounting, the resources of a company are called assets.
f. Fixed assets can be easily converted into cash.
g. Tangible assets are part of fixed assets.
h. Current liabilities must be paid in a year’s time.
right:
1. personnel a. documents
2. assets b. take money from an account
3. liabilities c. everything a company owns
4. accounts receivable d. everything a company owes
5. accounts payable e. funds readily available
6. papers f. money expected to arrive
7. make a withdrawal g. staff
8. liquid assets h. money to be paid
Verb Noun
to save
rent
authorization
patent
to supply
to pay
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1. Her son told me he would like to become a successful banker when he

grows up.
2. I should be able to save some money this month.
3. Jane needs to seek the advice of a financial consultant in this matter.
4. Have they gone to the bank yet?
5. The rent for this apartment is too high for our family. We can’t afford
to stay in this building.
1. Dosarul roşu, cel cu documente, era ieri aici pe birou. Acum nu îl mai
găsesc. L-ai luat tu?
2. În acest depozit este foarte multă marfă. În curând va trebui să
închiriem un alt spaţiu de depozitare.
3. Tatăl meu mi-a spus să nu mai fac un alt împrumut la bancă deoarece
am deja multe datorii.
4. Poţi să retragi o sumă considerabilă din contul tău, însă data viitoare
când vei avea nevoie de bani, va trebui să găseşti o altă soluţie.
5. Familia lor deţine 50 de ha de pământ, trei case în afara oraşului şi
două apartamente.
6. Make up sentences with at least 5 words in the vocabulary section.
7. Practice (I)
You are at a bank in your town. Write a short dialogue in which you
talk to the credit officer. Ask for a loan.
8. Practice (II)
Do you think it is safe to keep money in a bank? Motivate your
answer.
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TEMA 4 - PRINCIPALELE TIPURI DE SOCIETĂŢI
COMERCIALE
UNIT 4 - MAIN TYPES OF BUSINESS ORGANIZATIONS
~ A Little Entrepreneur ~
OBIECTIVE
Însuşirea terminologiei englezeşti care face referire la:
- tipurile de societăţi comerciale;
- evidenţierea asemănărilor şi deosebirilor dintre acestea;
- recunoaşterea abrevierilor în limba engleză a tipurilor de societăţi
comerciale.
REZUMAT
Această lecţie cuprinde vocabularul folosit la prezentarea tipurilor de
societăţi comerciale cu terminologia necesară, în limba engleză.
Once upon a time there was a little boy named Peter. Peter was just
an ordinary kid, but unlike any ordinary kids, he had an extraordinary
dream: he dreamed of having his own business.
Peter, like all normal kids, had a normal life: he went to school every
day, he did his homework, and then he went outside to play with his friends.
He really loved to play with the little boys and girls in his street. They
played all the games that kids their age normally do. But from time to time,
when they got bored of playing the same old games, the children would go
to the movies or the circus. Those were unhappy times for Peter because he
came from a poor family and his parents could merely provide food and
shelter and they could not afford to give him any money.
So whenever his friends went to the movies or the circus, Peter went
home where, all by himself in his room, he dreamed… And strangely, he
kept dreaming about figures. He really loved mathematics and everything
about numbers. And so he thought: Why do I keep dreaming about figures?
It must be because I’d like to have my own little business. But I’m just a kid.
What do I know about business? And then he thought about everything he
had heard the grownups talk about when it came to business: loans from the
bank, corporations, stockholders, employees, marketing strategies, sales,
profit, income, turnover… Nothing made sense. He was too young to
understand these things. There must be some easier way for me to have my
business…
And then one day, he had an idea: he was going to make and sell
toys.
His father was a carpenter and Peter helped him from time to time.
He thought of all the little pieces of wood that were left after a door or a
window or a table was made, and which were only used as firewood. So
every time he went to help his father, he hid one or two little pieces of wood
18
behind an old bench in the workshop. And every night, after his family went
to sleep, he went back into the workshop and practiced.
A month went by and the other kids were wondering what was going
on with Peter because he didn’t go out to play anymore. But that was Peter’s
secret: he spent every afternoon in his room drawing sketches for his toys
and a few hours every night making them in his father’s workshop.
But at the end of that month, he finally had his first series of wooden
toys. So he took a big box, put them all inside, and went outside. He
gathered all his friends around the box and opened it. It was a magical
moment: his friends were so surprised that they couldn’t breathe.
Time went by and Peter made more and more beautiful and
interesting toys. His friends bought them and played with them and never
got bored again. Peter became a prosperous little businessman. Now all he
wanted was to do something he couldn’t do before:
- Listen kids! Can you stop playing with my toys just one afternoon?
I’d really like to go to the movies!
1. What was Peter’s extraordinary dream?

2. Why couldn’t Peter go to the movies or the circus with his friends?
3. What were the things about business that he had heard grownups talk
about?
4. What was his idea?
5. What was his father’s job?
6. Where did he hide the little pieces of wood?
7. How long did it take him to produce his first series of wooden toys?
8. What was the only thing left for him to do once he had enough
money?
19
Main types of business

organizations
SOLE PARTNERSHIP CORPORATION

PROPRIETORSHIP
corporation = corporaţie
partnership = parteneriat
sole proprietorship = societate cu asociat unic
Common abbreviations used in English company names:
plc = public limited company = S.A.

Ltd = limited liability = S.R.L.
Inc. (U.S.A.) = incorporated = corporaţie constituită legal
business = afacere, afaceri

businessman = om de afaceri
businesswoman = femeie de afaceri
business people = oameni de afaceri
business partner = partener de afaceri
figures = cifre
loan = împrumut
shareholders / stockholders = acţionari
shares = acţiuni
employer = angajator
employee = angajat
marketing strategy = strategie de marketing
to sell = a vinde
sale = vânzare
to purchase = a achiziţiona
purchase = achiziţie
profit = profit
income = venit
turnover = cifră de afaceri
text:
a. Peter was always busy doing homework and he never went out to
play.
b. Peter’s parents didn’t give him any money even if they were wealthy.
20
c. Peter’s dreams were always related to numbers.
d. One day, Peter came up with the idea to make and sell toys.
e. Peter hid the little pieces of wood behind a closet in his father’s
workshop.
f. During a whole month, Peter made toys every night.
g. The kids soon got bored of playing with Peter’s toys.
h. Peter had only one thing left to do: he wanted to go to the movies.
right:
1. business partner a. revenues minus expenses

2. figures b. person that hires people
3. shareholders c. person being hired
4. employer d. numbers
5. employee e. business associate
6. profit f. people that hold shares in a company
7. income g. public limited company
8. plc h. money resulted from a job, a business etc.
Verb Noun
to sell
purchase
to employ
1. We really need to purchase new pieces of furniture for the office

downtown.
2. The head of the company has appointed a new marketing chief.
3. The shares have increased almost 15% in value.
4. They have to come up with an innovative marketing strategy for this
project.
5. Their partnership seems to be quite productive up to the present.
6. This year figures show a 10% increase on last year.
1. Cifra de afaceri a societăţii noastre s-a dublat în ultimii cinci ani.

2. În momentul de faţă, este din ce în ce mai greu să obţii un împrumut
de la bancă.
3. Acesta este partenerul nostru de afaceri din străinătate.
4. În cadrul firmei noastre există o strânsă legătură profesională între
angajator şi angajaţi.
5. În ultima perioadă în România veniturile au crescut, dar nu şi puterea
de cumpărare.
21
7. Practice (I)
What would be some of the skills needed in order to become a
successful businessman? Write at least 5 lines.
8. Practice (II)
Write a short dialogue in which you try to convince your colleague
and friend that he/she is the right person to apply for the department
head position in the company you work for.
22
TEMA 5 - CONTUL. DEBIT ŞI CREDIT
UNIT 5 - THE ACCOUNT. DEBIT AND CREDIT
~ The King’s Shoes Factory ~
OBIECTIVE
- Introducerea, însuşirea şi utilizarea termenilor englezeşti referitori
la cont şi structura sa (debit şi credit), precum şi a celor legaţi de diferitele
departamente din cadrul unei fabrici.
REZUMAT
Lecţia cuprinde o scurtă descriere a activităţii curente din cadrul
unei fabrici, prezentând succinct responsabilităţile aferente diferitelor
departamente.
Once upon a time, there was a faraway kingdom. It was the kingdom
of a very wise and kind king. Yes, our king was indeed very kind to his
subjects, but only on one condition: no one was allowed to be lazy. They
could all rest on Sundays and holidays, but during workdays everybody
needed to be as efficient as possible. According to the wise king and his
advisors, efficiency was the result of the process of setting a goal, carefully
planning all activities and than taking all the right steps in order to achieve
that goal.
Not long ago, the king had ordered the opening of a new shoes
factory, as he decided that no one in his kingdom should walk barefoot,
even if shoes had always been the privilege of the court and the nobles.
Three months had gone by since the opening and the king decided to pay
them a visit to see how things were going. While visiting, he asked all
department heads for details regarding their department’s activity:
King: What do we have here?
23
Production department head: This is the warehouse where we keep the raw
material for our shoes.
King: I see. And where is it that you actually make them?
Production department head: Follow me, please. Here we are. This is where
we make the endproducts. We have 200 workers so far and we are
currently producing 50 pairs a day.
King: But why do I see only men’s shoes? On my way here I stopped by the
store and there were also women’s shoes!
Production department head: You see, Your Majesty, we are importing
those from the neighboring kingdom because we haven’t been able to
produce them so far.
King: What am I hearing? Why haven’t you?
Production department head: We don’t have the know-how.
King: You don’t have the know-how?!? Where’s the research department
head?
Research department head: I’m here, Your Majesty.
King: You have one week to come up with a solution or your head is going
to fall! I hope this is the last time I’m hearing about importing
anything from our neighbors! We should export to them!
Research department head: I understand, Your Majesty. Thank you for
giving me another opportunity to make things right.
King: Now get out of my face! And where’s the marketing department head
and the chief accountant?
Marketing department head: I’m here, Your Majesty.
King: What can you tell me about your department’s activity?
Marketing department head: Everything is going according to the plan. Our
marketing strategy has proved to be successful and sales are beyond
all expectations.
King: That’s really good to hear. And you? Are you working efficiently?
Chief accountant: Yes, Your Majesty. We have registered everything in the
appropriate accounts, from raw material to the endproduct.
King: And how do you actually register something into an account?
Chief accountant: You see, Your Majesty, there are basically two sides of an
account: the debit side and the credit side. There are inputs and
outputs…
King: Say no more! I’m feeling a bit tired. I want all of you to do your job
the best way you can. I’ll be back in a week and I really want to find
everything right. That’s an order! And now, get back to work! All of
you!
1. What was the wise king’s mandatory requirement?

2. What kind of factory was opened on the king’s orders? Why?
3. What did they keep in the warehouse?
4. How many workers did the factory have and how much did they
produce daily?
5. Why did the king only see men’s shoes?
6. Who did the king put in charge of finding a solution?
24
7. What has the chief accountant registered in the appropriate
accounts?
8. What are the two sides of an account?
The Account. Debit and Credit
Each account accumulates information about both increases and decreases

from various business transactions.
The basic format of an account is called a ‘T-account’ because it looks like
the letter T.
The left side of the account is called the debit side and the right one is called
the credit side. The left (debit) and the right (credit) side of each account are
used for recording the monetary information from transactions.
efficient = eficient
efficiency = eficienţă
goal = scop, ţel
target = ţintă, scop
target group = grup ţintă
department = departament
department head = şef de departament
raw material = materie primă
endproduct = produs finit
worker = muncitor
import = import
to import = a importa
imports = mărfuri de import, importuri
import duty = taxă de import
import license = licenţă / autorizaţie de import
importer = importator
export = export
to export = a exporta
exports = marfă de export, exporturi
export license = licenţă de export
exporter = exportator
marketing strategy = strategie de marketing
research = cercetare
chief accountant = contabil şef
account = cont
debit = debit
debit account = cont debitor
25
debit amount = sumă debitoare
debit balance = sold debitor
credit = credit
credit account = cont creditor
credit balance = sold creditor
input = intrare
output = ieşire
input-output instruction = instrucţiune de intrare-ieşire
input-output routine = rutină de intrare-ieşire
input-output overlap = simultaneitate de intrare-ieşire
text:
a. The king made his subjects work on Sundays and holidays.

b. A shoes factory was opened on the king’s orders because he didn’t
want anyone in his kingdom to walk barefoot.
c. After two months the king went to visit the factory.
d. The raw material was kept in the factory’s warehouse.
e. A number of fifty workers produced two hundred pairs of shoes a day.
f. The factory exported women’s shoes to the neighboring kingdom.
g. In the marketing department things were going great.
h. The king wanted some details from the chief accountant about
registering information into an account.
right:
1. goal a. authorization to sell products abroad

2. raw material b. head of the accounting department
3. end product c. the final item that will be sold on the market
4. import duty d. authorization to buy products from abroad
5. import license e. productive
6. export license f. target
7. chief accountant g. what we use in order to manufacture a product
8. efficient h. amount of money paid when someone buys
products from abroad
Noun Adjective Verb

efficient
to produce
exported
to import
26
1. How much money have you got in your bank account?

2. This marketing strategy doesn’t seem to work very well at the
moment.
3. Those workers have to wear their uniforms during working hours.
4. I need to speak to your department head immediately. It is an urgent
matter.
5. It is very important that you find the most efficient way to work this
out.
1. Este esenţial să ne îndeplinim scopurile pentru a avea o carieră de

succes.
2. Firma noastră este unic importator al acestei mărci.
3. Marfa de export se află în cel mai mare depozit al companiei, care
este situat în afara oraşului.
4. Contabilul şef de la fabrica părinţilor mei şi-a luat o săptămână de
concediu medical.
5. Tu eşti cel care s-a ocupat de noul proiect de cercetare? Ai făcut o
treabă excelentă.
7.Practice (I)
You are offered the opportunity to take charge of the department in
the place you work for two weeks. Would you accept/decline the
proposal? Motivate your answer.
8.Practice (II)
Describe a regular day at your job. Write at least 10 lines.
27
TEMA 6 - BILANŢUL CONTABIL
UNIT 6 - THE BALANCE SHEET
~ Expanding ~
OBIECTIVE
- Însuşirea cuvintelor şi expresiilor folosite la întocmirea bilanţului
contabil în limba engleză.
REZUMAT
Această lecţie include cuvintele şi expresiile uzuale pe care le
conţine un bilanţ contabil cu o structură specifică.
Bill Grady is on his way to the bank. He’s had an advertising and
PR agency for over a year now and since things seem to be working just
fine, he is thinking about expanding.
About two months ago, while he was working on an important
politician’s campaign, he came across a very talented young man, Jack
Crosby. Despite his young age, Bill found Crosby extremely experienced,
very competent and charismatic at the same time, and charisma is one of the
most important qualities required by this kind of work. So he decided to
give this young man a chance and offer him a job. Unfortunately, there
weren’t any open positions left at his agency.
That’s when it hit him: it was about time to expand!
So he decided to open a second agency and now he’s going to the
bank hoping to get a credit.
After a couple of hours in the crazy afternoon traffic, he finally
arrived at the bank and now he’s talking to the loan officer:
Loan officer: So tell me Mr. Grady, why are you interested in making a
loan?
Bill: I own an advertising and PR agency that is going really well and that’s
why I’d like to open a second one.
Loan officer: I see. Well, you must be aware that first of all we need to
check your credit-worthiness.
Bill: I understand. What would you like me to do?
Loan officer: You need to bring us a balance sheet and a trial balance for
examination.
Bill: I’m afraid I haven’t got any of them on me, but I’ll call my accountant.
Loan officer: All right, sir. Would you like me to explain the terms and
conditions of the credit, interest rate and everything else right now?
28
Bill: Thank you, but that won’t be necessary for the time being. I’ll get in
touch with my accountant and we’ll discuss everything when I come
back.
Loan officer: Very well, sir. I’ll be expecting you. Have a nice day!
Bill: Thank you! You too!
1. Where is Bill Grady going?

2. What business does he own?
3. What does he want to do?
4. Who is Jack Crosby?
5. Who does Bill talk to at the bank?
6. What does the bank need to check?
7. What does Bill need to bring back to the bank?
8. Who will he contact to take care of the matter?
The Balance Sheet Bilanţul contabil
ASSETS ACTIV
● fixed assets ● active imobilizate
- intangible assets - imobilizări necorporale
- tangible assets - imobilizări corporale
- shares/ stocks held in other - imobilizări financiare (acţiuni
companies deţinute la alte societăţi)
● current assets ● active circulante

- stock - stocuri
- debts / debits receivable - mijloace circulante care
generează creanţe
- liquid assets - mijloace băneşti
LIABILITIES PASIV
● owner’s equity ● capitaluri proprii
- share capital - capital social / capital în acţiuni
- share premiums - primele legate de capital
29
- reserve / surplus fund - fond de rezervă
- revaluation funds - rezerve din reevaluare
- provisions according to rules and - provizioane reglementate
regulations
- provisions for risk and - provizioane pentru riscuri şi
expenditure cheltuieli
- result - rezultatul activităţii (exerciţiului)
● dues or liabilities ● datorii sau obligaţii

- financial / long and medium- - datorii pe termen lung şi
term liabilities mediu
- long and medium-term credits
- credite bancare pe termen lung
- current / short-term liabilities şi mediu
- short-term credits - datorii pe termen scurt
- trade credit (to suppliers) - credite bancare pe termen scurt
- salaries (to employees) - datorii comerciale (către
- social liabilities (social security furnizori)
payments) - datorii salariale (către salariaţi)
- tax liabilities (to the state - datorii sociale (plata
budget) asigurărilor sociale)
- dividends - datorii fiscale (către bugetul
statului)
- datorii faţă de asociaţi /
dividende
advertising = publicitate
PR = public relations = relaţii publice
agency = agenţie
to expand = a se extinde
campaign = campanie
open position = post liber
credit = credit
loan officer = ofiţer de credite
credit-worthiness = solvabilitate
balance sheet = bilanţ contabil
trial balance = balanţă contabilă
interest = dobândă
interest rate = rata dobânzii
text:
a. Bill Grady owns a PR and advertising agency.

b. Bill Grady met Jack Crosby at a cocktail.
c. Jack lacks charisma.
30
d. Bill Grady wants to hire Jack, but there are no open positions in his
agency.
e. Mr. Grady is on his way to the bank to try to obtain a credit.
f. At the bank he doesn’t find a loan officer to talk to.
g. The loan officer tells Mr. Grady to bring a balance sheet and a trial
balance.
h. Mr. Grady needs a financial consultant in order to obtain these
documents.
right:
1. intangible assets a. fond de rezervă

2. share capital b. datorii pe termen scurt
3. liquid assets c. primele legate de capital
4. tangible assets d. imobilizări necorporale
5. reserve / surplus fund e. imobilizări corporale
6. current liabilities f. capital social
7. share premiums g. active imobilizate
8. fixed assets h. mijloace băneşti
Verb Noun
to advertise
expansion
explanation
to discuss
1. He would very much enjoy working in advertising.

2. My husband works as a PR manager. I think this is the most suitable
job for him, as he is extremely talkative and versatile.
3. I called at the bank yesterday in order to set up a meeting with the
loan officer.
4. I need to go to a travel agency today because I’m interested in their
offers for a trip to Scotland.
5. Are there any open positions in your department?
1. Care este dobânda pentru un depozit la termen?

2. Este momentul oportun ca firma noastră să se extindă.
3. Pentru lansarea noului produs, va trebui să apeleze la serviciile unei
agenţii de publicitate.
4. Familia lui Paul are deja trei credite la bancă.
5. Bilanţul contabil se depune la Administraţia Finanţelor Publice.
31
6. Make up sentences with the following words and phrases: campaign, to
expand, interest, quality, charisma.

competent, necessary, politician, work, and chance.
8. Practice
Do you think it is hard to work in PR? Motivate your answer.
32
TEMA 7 - VENITURI
UNIT 7 - INCOME
~ “Money for nothing” ~
OBIECTIVE
Introducerea terminologiei englezeşti în legătură cu:
- venit, impozit, taxe;
- alte surse de venit.
REZUMAT
Lecţia are în vedere însuşirea vocabularului englezesc referitor la
diferitele surse de venit.
Little Jane is in the living room, “bothering” her father again. She is
13 and we all know that’s the age of endless questions… Now she is
wondering about what she could do as a grown-up in terms of work and
income.
“Daddy, I think I’d like to be like grandpa when I grow up.”

“What do you mean?”
“Well, he stays home all day, reads his newspaper, takes me to the park or
the playground from time to time, and yet he gets paid every month.”
“Your grandfather used to work too, you know. But when he got old he
retired. And when people retire they receive a pension.”
“But can’t we have a pension if we don’t work? ‘Cause Paul’s mother also
has a pension and she isn’t old and I don’t think she’s ever had a job?!”
33
“Well honey, Paul’s mother is ill and that’s why she can’t work. People with
disabilities also receive pensions, but a healthy person needs to work.”
“How about uncle Tom? He doesn’t work but he’s got a lot of money!”
“Well, uncle Tom is an inventor. He patented two of his inventions and
now he lives on royalties.”
“You mean, he’s like a king or something? And what is that, ‘patented’?”
“When you patent an invention, you receive a certificate from the
authorities, which acknowledges you as the author of that invention.
Nobody else can use your invention unless you allow them to and you get
paid whenever your invention is used. That’s what we call royalty.”
“And Martha, mom’s friend? She also doesn’t work but she has a big house
and a super car.”
“Martha was just lucky. She comes from a wealthy family. She inherited a
fortune. But a normal, healthy adult has to work for a salary.”
“What is a salary?”
“It’s money people receive every month for the work they do.”
“Do you receive one?”
“No, I don’t. Mommy does.”
“But don’t you earn any money?”
“Yes, I do. But I’m a lawyer and what I receive in exchange for my
professional services is called a fee.”
“Well, I hope you’ll get really rich so that one day I can inherit a fortune
just like Martha.”
“We’ll see about that. But meanwhile you’ll need to do all of your
homework, study hard and choose a profession, you know, just in case we
don’t become as wealthy as Martha’s family.”
1. Who does little Jane want to be like when she grows up? Why?
2. What happens to people when they get old and don’t work anymore?
3. Why does Paul’s mother receive a pension?
4. How does Uncle Tom earn his money?
5. How about Martha?
6. What do people that have a job receive every month?
7. How do we call the money paid to a lawyer for his services?
8. What does little Jane wish for?
INCOME
income = venit
per capita income = venit pe cap de locuitor
guaranteed minimum income = venitul minim garantat
income adjusted for inflation = venit ajustat în funcţie de inflaţie
income statement (USA) / profit and loss account (UK) = contul de profit
şi pierdere
income tax = impozit pe venit
34
income tax allowance = deducere / reducere la impozitul pe venit
re-payment of income tax = rambursarea impozitului pe venit
to work = a munci
work = muncă
to retire = a se pensiona
retirement = pensionare
a retired person / pensioner = persoană aflată la pensie, pensionar
pension = pensie
to patent = a patenta / a breveta
patent = brevet
patentee = titularul brevetului
royalty = drepturi de autor
job = slujbă
to earn / make money = a câştiga bani
to pay = a plăti
pay / payment = plată
pay-day = ziua de salariu
payroll = state de plată / salarii
salary = salariu
wages = plăţi efectuate săptămânal (câteodată zilnic) şi de obicei cash,
calculate pe oră, pe zi sau în funcţie de cantitatea de muncă
depusă; se adresează de regulă muncitorilor
fee = onorariu; reprezintă venitul obţinut de avocaţi, medici etc.
text:
a. Little Jane would like to be like her grandfather when she grows up
because he has a good job.
b. People who retire and people with disabilities receive a pension.
c. Tim, Jane’s uncle, is an inventor.
d. Martha is the heiress of a wealthy family.
e. A salary is money a person receives for his/her work at the end of
each month.
f. Lawyers and doctors receive a fee in exchange of their professional
services.
g. Little Jane would like her parents to make a fortune for her to inherit.
h. Jane’s father tells her to go and do her homework for the following
day.
right:
35
a. to give money for a product /
1. income
service
b. the date of the month when people
2. job
receive their salaries
c. monthly payment to people after
3. fee
ending their professional activity
4. pay-day d. earned money
e. an older person that doesn’t work
5. to pay
anymore
6. a retired person f. owner of a patent
g. money a lawyer receives in
7. patentee exchange for his professional
services
8. pension h. profession
Verb Noun
to work
to retire
patent
to pay
4.Translate into Romanian:
1. Maria’s husband works 8 hours a day during weekdays and

sometimes 4 hours during the weekends.
2. Her father retired when he turned 65. He worked 40 years in a big law
firm in Bucharest.
3. I don’t think Jerry likes his job very much. Every day he gets up at 5
in the morning; when he comes home in the evening, he looks
absolutely exhausted.
4. Nowadays it’s very hard to earn a lot of money.
5. How much did you get paid for your work?
5.Translate into English:
1. Bunicul meu primeşte o pensie în valoare de 900 de lei pe lună.

2. Vom organiza o petrecere de pensionare pentru directorul nostru.
3. Majoritatea pensionarilor din ţara noastră consideră că ar trebui să
primească mai mulţi bani.
4. Am obţinut o mărire de salariu de 50%.
5. Este evident că tu eşti următorul care va fi promovat în acest
departament.
6. Make up sentences with the following words and phrases: income, to

make money, payday, royalty and fee.
36
invention, fortune, professional, job, patent.
8. Practice
Talk about various professions (advantages – disadvantages) in the
business field.
37
TEMA 8 - TAXELE
UNIT 8 - TAXES
~ An Interesting Lesson ~
OBIECTIVE
- Fixarea înţelesului termenilor: taxă, impozit, contribuţie, în limba
engleză;
- Însuşirea terminologiei englezeşti referitoare la diferite tipuri de
taxe şi impozite.
REZUMAT
Această lecţie îşi propune studierea vocabularului englezesc legat de
diferitele tipuri de taxe şi impozite.
This morning, a teacher from a British school has brought a guest to

her class to discuss taxes.
Teacher: Good morning children!
Class: Good morning teacher!
Teacher: Today we have a special guest among us. This is Mr. Paul
Seymour, Jack’s father, and he is here to tell us about taxes.
Class: Good morning Mr. Seymour!
Mr. Seymour: Good morning kids! As Mrs. Jones said, I am here to talk to
you about taxes. I know that you are still young and you may not yet
be acquainted with the taxation system, but if you ask any of your
parents about it, they will all tell you that they have to pay taxes.
And sometimes they even might consider taxes a burden.
Jim: Then why do they have to pay them?
Mr. Seymour: Well, that’s just the way things work and I’ll explain why.
You see, the purpose of a taxation system is to collect revenue for
the state budget.
Alice: But why should there be a state budget?
Mr. Seymour: The state budget is used by the government to provide
citizens certain services. For instance, state schools and hospitals are
working on money provided by the state budget. And then there are
roads and public areas also built on money from the state budget.
Alice: I see.
Paul: So people pay taxes, but they actually benefit from that money.
Mr. Seymour: Exactly. That’s how the system works.
Sarah: But how does the state actually collect the money?
Mr. Seymour: Well, here in the U.K. each adult person has the obligation to
prepare a personal tax return of his income, no matter what source
it comes from: salary, dividends, return on investments etc.
Robby: What are dividends?
38
Mr. Seymour: You see, if a company makes a profit, it has to pay the people
who own shares in that company, called shareholders. And dividends
are what we call these payments to shareholders.
Jack: So what happens to those returns?
Mr. Seymour: They are submitted to the tax authorities and they establish
the income tax to be paid.
Sally: My father owns a company. So what about companies? Do they pay
taxes?
Mr. Seymour: Of course they do. Here in the U.K. they pay what we call a
corporation tax.
Will: So that’s all? Are there any other kinds of taxes?
Mr. Seymour: Yes, there are. We have, for instance, the value added tax or
the excise duty.
Will: And what are those?
Mr. Seymour: The value added tax is paid when you buy goods or services,
while the excise duty is paid on the purchase of tobacco or alcohol.
Robby: What if people don’t declare their income and just don’t pay taxes?
Mr. Seymour: That is called tax evasion and is punished by the law. There
are, however, countries where taxation is less severe, called tax
havens. That’s why sometimes people with high incomes, such as
property tycoons, famous artists or sportsmen choose to settle there.
Teacher: I’m sorry to interrupt this interesting discussion, but the class is
almost over. So let’s thank Mr. Seymour for this valuable lesson.
Class: Thank you, Mr. Seymour.
Mr. Seymour: It was my pleasure. And if there are any questions left, I’d be
happy to come back another day.
1. Why has the teacher brought a guest?

2. Why do people pay taxes?
3. What does each person have the obligation to prepare?
4. What do companies pay?
5. When do we pay the value added tax?
39
6. When do we pay the excise duty?
7. What happens when people don’t pay taxes?
8. What do we call the places where taxation is less severe?
Taxes
tax = impozit, taxă, contribuţie

to tax = a taxa, a impozita
taxation = impozitare
taxable = impozabil
income tax = impozit pe venit

profits tax = impozit pe profit
taxes and dues = impozite şi taxe
tax in kind = impozit în natură
tax on capital = impozit pe capital
tax on turnover / turnover tax = impozit pe cifra de afaceri
road tax = taxă de drumuri
corporation tax (U.K) = impozit corporativ / pe corporaţii
tax collector = perceptor
tax exemption = scutire de impozite
tax free / exempt = scutit de impozite / de taxe vamale
tax haven = paradis fiscal
tax liabilities = obligaţii fiscale
tax payer = contribuabil
tax year = an fiscal
tax holiday = vacanţă fiscală
tax avoidance = evitare a impozitelor (licită)
tax evasion = evaziune fiscală
personal tax return = declaraţie personală de impozit
land tax = impozit funciar
direct tax / taxation = impozit direct
indirect tax / taxation = impozit indirect
dividend = dividend
dividend tax = impozit pe dividende
capital gains tax = impozit pe veniturile realizate din capital
inheritance tax = taxă pe moştenire
value added tax (VAT) = taxa pe valoare adăugată
excise duty = acciză
customs duty = impozit vamal
additional tax = impozit suplimentar
social security tax = impozit de asigurări sociale
back duty = impozit restant
current taxation = impozitare curentă
taxable base / tax base = bază de impozitare
taxation brackets = grilă de impozitare
tax rebate = rambursare a unei părţi a impozitului achitat
40
text:
a. Mr. Paul Seymour came to talk to the children about taxes.

b. The state budget collects money from taxes.
c. In Great Britain companies don’t pay any taxes.
d. Shareholders receive dividends.
e. The value added tax is paid on the purchase of tobacco and alcohol.
f. People who don’t report their income and don’t pay taxes can be
accused of tax evasion.
g. Tax havens are places where taxation is very high.
h. Mr. Seymour is not available to come back and continue the
discussion.
right:
1. income tax a. impozit vamal

2. tax collector b. obligaţii fiscale
3. tax in kind c. impozit în natură
4. tax payer d. evaziune fiscală
5. tax year e. impozit pe venit
6. tax liabilities f. preceptor
7. customs duty g. contribuabil
8. tax evasion h. an fiscal
Verb Noun
collector
to tax
to avoid
to evade evasion
1. There are certain special situations in which several people could be

tax-free.
2. Her business associate had a very hectic day at the office. He arrived
there at 9 o’clock in the morning and he only got home by 8 o’clock
in the evening.
3. Do I have any additional taxes to pay?
4. Is he required reimbursing the inheritance tax?
5. Nowadays, people only talk about taxes and dues.
41
1. Insulele Cayman sunt un paradis fiscal.

2. Impozitul pe profit se plăteşte trimestrial.
3. TVA-ul de plătit se virează la buget până in data de 25 a lunii
următoare.
4. Accizele reprezintă un impozit indirect.
5. Toţi contribuabilii au obligaţia de a depune declaraţia personală de
venit la Administraţia Finanţelor Publice.
7. Work in pairs. Use your dictionaries. Find at least a synonym for: tax,
social, taxable, duty, budget.
8. Practice
Why do you think taxes in our country are so high? Motivate your
answer.
42
TEMA 9 - CONTUL DE PROFIT ŞI PIERDERE
UNIT 9 - PROFIT AND LOSS ACCOUNT
~ Investment matters ~
OBIECTIVE
- Însuşirea vocabularului referitor la contul de profit şi pierdere;
- Cunoaşterea şi folosirea corectă a terminologiei specifice în limba
engleză.
REZUMAT
Această lecţie urmăreşte familiarizarea cu vocabularul englezesc
legat de contul de profit şi pierdere.
Mr. Grey is an American billionaire. He is a reputed magnate in the

oil field with an estimated fortune of 11 billion dollars. Last year he came
second in an important magazine’s ranking of the wealthiest people. Now he
is thinking about investing some of his money in European companies. As
he doesn’t really know how things work on the European market, he needs
the advice of a European investment analyst. So here he is now in Mr.
LeBlanc’s office:
“Tell me, Mr. Grey, what kind of companies would you like to invest
capital in?”
“Well, that’s what I came to you about. I’m not very familiar with the
European market so I really don’t know what kind of investments would
bring me the most significant financial return.”
“In this case I advise you to go to an investment company.”
“Well, could you recommend me a good one?”
“Of course. The best one I know is Inter Safe. They are part of the well-
known Inter Safe investment trust, which has a very impressive
investment portfolio.”
43
“Do you have a telephone number of someone I could contact from Inter
Safe?”
“Yes. This is Mrs. Schneider’s card. Feel free to call her anytime. Just tell
her you’re calling from my part.”
“Thank you, Mr. LeBlanc!”
“You’re welcome!”
* *
*
“Hello?”
“Good afternoon, Mrs. Schneider. My name is Edward Gray. I come from
the United States and I’m willing to invest in Europe. I talked to Mr. Joseph
LeBlanc about this matter. He recommended your investment company and
he gave me your number. Do you think we could get together and come up
with a good investment plan?”
“Of course, Mr. Grey. Let’s make an appointment. Let me check my agenda
first. Let’s see… I’m free on Tuesday from 2 to 6 pm and I think I might
also be able to find a couple of hours on Friday at noon.”
“Tuesday at 2 pm would be just fine. Thank you, Mrs. Schneider. Have a
nice day!”
“You too, Mr. Grey. See you on Tuesday!”
* *
*
“So tell me, Mrs. Schneider, what is the first thing I should be looking at
before deciding to invest in a company?”
“Well, as a potential investor, you are interested in the bottom line of the
company’s profit and loss account because your decision to put money
into the business depends on the expected return on your investment.”
“And what is this profit and loss account actually?”
“It is one of the schedules to a balance sheet, which provides information
on the performance of a company over a specified period of time. It
basically summarizes the revenues and matches them against the expenses
incurred in obtaining them. And then by subtracting expenses from
revenues, it shows you the profit or loss the company made.”
1. Who is Mr. Grey?

2. How big is his fortune?
3. What has he decided to do?
4. Who does he turn to for advice?
5. What is Mr. LeBlanc’s recommendation?
6. Who does Mr. Grey call and why?
44
7. What does a profit and loss account provide?
8. How can we calculate the profit or loss a company made?
The Profit and Loss Account
Potential users of the information provided by the profit and loss account:
- MANAGERS: If a company is making a loss, they will have to make the

appropriate decisions at once to rectify the situation.
- BANKS: When they are required to lend funds to a company, they need to
know if that company is profitable.
- POTENTIAL INVESTORS: They want to be as sure as possible that they
will earn a good financial return as a result of their invested capital.
The profit or loss a company made is determined as follows:
PROFIT = REVENUES - EXPENSES
Therefore, if revenues exceed expenses, the company is making a profit. If

expenses exceed revenues, the company is making a loss. If revenues equal
expenses, the company is making zero profit.
to invest = a investi
investor = investitor
investment = investiţie
to invest capital = a investi / a plasa capital
invested capital = capital investit
invested funds = fonduri investite
investment analyst = analist în domeniul investiţiilor
investment analysis = analiză a investiţiilor
investment company = companie de investiţii
investment trust = trust de investiţii
investment fund = fond de investiţii
investment income = venit din investiţii
investment account = cont de investiţii
investment portfolio = portofoliu de investiţii
investment bank = bancă de investiţii
profit and loss account = contul de profit şi pierderi
schedules to a balance sheet = anexe la bilanţul contabil
profit = profit
loss = pierdere / pierderi
to incur expenses = a suporta cheltuieli
to incur losses = a suferi pierderi
to make a profit = a obţine profit
gross profit = profit brut
net profit = profit net
45
profit earning capacity = rentabilitate
profit maximization = maximizarea profitului
profit sharing = repartiţia profitului
profits tax = impozitul pe profit
income tax = impozitul pe venit
bottom line = rezultat final
revenues = venituri
expenses = cheltuieli
return on an investment = câştig de pe urma unei investiţii
text:
a. Mr. Grey is an American millionaire.

b. Mr. Grey is now thinking about investing in Japanese companies.
c. Looking for advice, Mr. Grey goes to a financial analyst.
d. Inter Safe is an investment company that is part of the Inter Safe
investment trust.
e. Mr. LeBlanc doesn’t have Mrs. Schneider’s card.
f. Mr. Grey makes an appointment with Mrs. Schneider for 2 a.m. on
Tuesday.
g. A potential investor should look first of all at the profit and loss
account of a company.
h. The profit and loss account basically shows whether the company
made a profit or a loss.
right:
1. invested capital a. a schedule to a balance sheet

2. profit and loss account b. a group of investment companies
3. net profit c. revenues minus expenses
4. investment portfolio d. money spent by a company in
performing its economic activity
5. income tax e. tax paid on a company’s revenues
6. profit f. money placed in a business in
order to make a profit
7. investment trust g. what is left to the company after
paying a profits tax on the gross
profit
8. expenses h. list of previous successful
investments
46
Verb Noun
to invest
advice
decision
to expect
1. We have to recheck our expenses. Something is not right here.

2. I think you have made an excellent investment. Great job!
3. That is an investment bank. She has nothing to do there.
4. Hurry up! You’re going to be late for your appointment with the
investment analyst!
5. He is known to be the most eccentric billionaire in the world.
1. Am uitat complet de întâlnirea pe care o aveam astăzi la ora şase cu

D-nul Mihăiescu de la banca de investiţii!
2. Aceasta este o chestiune de afaceri care nu te interesează deloc.
3. Ai citit articolul din Business Magazine despre cel mai prosper om de
afaceri din România?
4. Doamna Peterson nu este la birou momentan; tocmai a plecat la o
conferinţă în Londra.
5. Nu ştiu cum aş putea să trec peste această criză financiară fără
ajutorul tău.
6. Make up sentences with the following words and phrases: to invest,

profit, loss, revenues, income tax.

capital, analysis, schedule, portfolio and magnate.
8. Practice
If you were extremely wealthy, where would you invest you money?
Motivate your answer.
47
TEMA 10 - DOCUMENTELE ÎN AFACERI
UNIT 10 - BUSINESS DOCUMENTS
~ A Busy Day at the Office ~
OBIECTIVE
- însuşirea vocabularului în limba engleză specific actelor necesare în
tranzacţiile de afaceri;
- cunoaşterea documentelor necesare în vederea încheierii acestora.
REZUMAT
Lecţia îşi propune o scurtă introducere în limbajul de bază referitor
la necesarul de documente în afaceri.
Mr. Blake is in his office. He’s had a very busy day so far and he is
finally “enjoying” his cold coffee that he didn’t find the time to drink in the
morning. He is slowly beginning to feel less tense, so he leans back in his
comfortable chair, his feet on top of the desk, when… well, his boss comes
in:
Boss: William, have you sent the goods ordered by IncoTrust?

Mr. Blake: Yes I have, sir.
Boss: And have you filled in the invoice?
Mr. Blake: Yes, sir. And I’ve already sent it.
Boss: How many items did they order?
Mr. Blake: Well, let me check. One hundred, sir.
Boss: And did you offer a discount?
Mr. Blake: I offered a 10 per cent discount for quick payment.
Boss: So have they paid yet?
Mr. Blake: No, not yet, sir.
Boss: Well, when did you send the invoice?
Mr. Blake: Yesterday.
Boss: And how are they paying?
48
Mr. Blake: By money order, sir. And the money is expected to be
transferred to our account later today.
Boss: And what is the total amount on the invoice, discount included?
Mr. Blake: € 1,250.
Boss: Very well, William.
The boss is gone now so Mr. Blake is once again taking his
comfortable position and he attempts to take a little sip of that cold coffee,
but… the boss bursts back in:
Boss: William! Don’t you think the total amount is a little low for one
hundred items?
Mr. Blake: What do you mean, sir?
Boss: Well, how much did you charge per item?
Mr. Blake: € 12.5, sir.
Boss: What were you thinking, William? Don’t you know that the new price
is € 13?
Mr. Blake: I’m afraid I had no idea, sir.
Boss: You had no idea?! Don’t mess with my nerves, William! You must be
aware of my heart problems at least…
Mr. Blake: I’m sorry, sir.
Boss: I’m going out now but I want this fixed by the end of the day.
No more peace and quiet for Mr. Blake… How can he fix this whole
mess? He is the company’s most recent employee. This is his first week
actually. So how could he possibly know what to do? And now his mobile is
ringing…
Mr. Blake: Hello?
Wife: Hi, dear! It’s me. I just called to see how you were doing. Is
everything OK?
Mr. Blake: Honey, I’m afraid not. I’m actually in a mess right now and I
have to fix it ASAP.
Wife: Sorry to hear that. What’s wrong?
Mr. Blake: I can’t talk right now but I’ll tell you all about it when I get
home.
Wife: Well, see you later, dear, and good luck!
Mr. Blake: Thanks honey. Bye!
Mr. Blake is now thinking. And he’s thinking hard. What to do?
What to do? Luckily, Jill, one of his colleagues, comes in:
Jill: You look like crap William. What’s wrong?
So Mr. Blake explained everything. And Jill… well, she started
laughing:
Jill: There’s no problem! The boss is just messing with you because you’re
the new guy. So here’s the simple solution: you’ll just send them a
debit note for the extra € 50.
1. Where is Mr. Blake? What is he doing?

2. What does his boss ask him?
3. How many items did IncoTrust order and how much is the total
amount on the invoice?
49
4. How much did Mr. Blake charge per item and how much should he
have charged?
5. What are the boss’s orders?
6. Who calls him next? Why?
7. Who saves the day?
8. What is the simple solution?
Business Documents
PURCHASE ORDER - it is prepared by the company who wishes to buy

certain goods and sent to the company that will
supply them
- it contains:
● name of the company sending the order
● name of the company that will supply the goods
● number of purchase order
● date
● full description of the goods, often together with the price
● quantity required
● signature of the person ordering the goods
INVOICE - it is prepared by the company who supplies the goods

- it contains:
● name and address of the seller
● name and address of the buyer
● date
● number of invoice
● customer’s order number
● details of the goods supplied
● unit cost of the goods supplied
● total cost of the goods supplied
● amount of trade discount allowed (if any)
● carriage charges (if applicable)
● terms of payment, including any cash discount allowed for quick
payment
STATEMENT OF ACCOUNT - it is prepared by the supplier at regular

intervals (often monthly) and
summarizes the transactions (in date
order) that have taken place on the
customer’s account since the last
statement
- it shows:
● the balance from the previous month (if any)
● money amounts of invoices (including VAT) sent out during the
month
● amounts of money received during the month, together with cash
50
discount allowed to the customer
● the amount of credit notes, including VAT
● the balance owing at the end of the month
CREDIT NOTE (U.K.) - it is used when a customer returns goods to a

supplier
- issued by the supplier
- shows the amount of money to be credited to the
customer’s account
DEBIT NOTE (U.K.) - it is the opposite of the credit note

- it is used when a supplier discovers that a customer
has been undercharged (either the supplier has
invoiced fewer goods than were supplied, or the
goods were charged at a lower price than they
should have been
- it is sent to the customer, showing the amount of
money that will be debited to his account, added to
the amount already owing for the goods)
MONEY ORDER - it is issued by the customer and taken to the bank,

which will transfer the stated amount to the supplier’s
account
RECEIPT - it is a proof or confirmation of a payment made
purchase order = comandă de bunuri / mărfuri

invoice = factură
unit cost = cost pe unitate
total cost = cost total
trade discount = rabat comercial
cash discount = reducere oferită pentru plată rapidă / în numerar
carriage charges = costuri de expediere
payment = plată
terms of payment = termene de plată
statement of account = 1. extras de cont
2. (aici) fişă cont client
balance = 1. balanţă, echilibru
2. sold, rest de plată
balance due = sold debitor
balance in hand = sold creditor
credit note = notă de credit
debit note = notă de debitare
to issue = a emite
issued = emis
51
to charge = a stabili / a cere un preţ
to undercharge = a cere un preţ mai mic decât ar fi trebuit
money order = ordin de plată
bank transfer = virament bancar
to transfer money to an account = a vira bani într-un cont
receipt = chitanţă
to fill in = a completa
item = articol
ASAP = as soon as possible = cât de curând posibil
text:
a. Mr. Blake’s break is interrupted by one of his colleagues.

b. Mr. Blake has already sent the goods ordered by IncoTrust, but he
hasn’t filled in the invoice yet.
c. IncoTrust ordered two hundred items.
d. Mr. Blake offered a 10% discount for quick payment.
e. IncoTrust will pay by money order in a couple of days.
f. Mr. Blake charged € 13 per item instead of € 12.5.
g. Mr. Blake’s wife calls him and tells him to come home ASAP.
h. Jill offers Mr. Blake a simple solution: to send IncoTrust a debit note.
right:
1. purchase order a. as soon as possible

2. money order b. to charge a lower price
3. receipt c. money left to be paid
4. unit cost d. details regarding payment
conditions
5. ASAP e. a document prepared by a
company who wants to buy
certain goods and sent to the
company that will supply them
6. to undercharge f. confirmation of a payment made
7. terms of payment g. a document issued by the
customer and taken to the bank,
which will transfer the stated
amount to the supplier’s account
8. balance due h. the cost of one item
Verb Noun
to order
offer
52
to know
to laugh
1. You have to come at the office ASAP! The boss needs the report right
away.
2. Do I really need to fill in an application?
3. The amount was transferred to that account yesterday at 10 p.m.
4. All of the items are mentioned in the purchase order on the table. Go
and look for yourself!
5. We must reorganize our things. I can find anything in here! Where is
the statement of account?
1. Plata facturilor pentru achiziţiile de bunuri se poate face prin ordin de

plată sau cu numerar.
2. Conturile contabile pot avea solduri debitoare sau solduri creditoare.
3. Pentru depunerea unei sume de bani în caserie, se emite obligatoriu o
chitanţă.
4. Pentru prestarea unui serviciu este obligatoriu a se emite
beneficiarului factură.
5. Plata obligaţiilor bugetare se face în conturile destinate fiecărei
obligaţii în parte.
6. Make up sentences with the following words and phrases: office, desk,
goods, customers, to undercharge.

discount, payment, trade, price, document.
8. Practice (I)
Would you like to have your own business? Motivate your answer.
9. Practice (II)
What line of business would you like to work in? Motivate your
choice of answer.
53
REVISION
Choose the right answer:
1. Which is not a synonym for transaction:
a. deal
b. statement
c. operation
2. Antonym of wealth:
a. possessions
b. poverty
c. prosperity
3. Synonym for owner:
a. secretary
b. proprietor
c. attorney
4. Factory means:
a. plant
b. element
c. business
5. Which is not a synonym for skill:
a. ability
b. talent
c. flaw
6. Delivery means:
a. demand
b. supply
c. offer
7. Synonym for branch:
a. division
b. restriction
c. election
8. Which is not a synonym for shipment:

a. delivery
54
b. load
c. show
9. Amount means:
a. error
b. evasion
c. sum
10. Price means:
a. cost
b. part
c. payer
11. Savings means:
a. investments
b. funds
c. reserves
12. Synonym for banker:
a. sponsor
b. manager
c. investor
13. Personnel means:
a. employees
b. workers
c. employers
14. Which is not a synonym for headquarters:
a. head office
b. subsidiary
c. center of operations
15. Antonym of authorization:
a. permission
b. approval
c. interdiction
16. Strategy means:
a. plan
b. tactic
c. approach
55
17. Employee means:
a. worker
b. member of staff
c. boss
18. Which is not a synonym for loan:
a. credit
b. advance
c. load
19. Antonym of income:
a. expenditure
b. revenue
c. gain
20. Business means:
a. trade
b. bankruptcy
c. commerce
21. Antonym of efficient:
a. incompetent
b. resourceful
c. professional
22. Goal means:
a. objective
b. purpose
c. target
23. Synonym for research:
a. study
b. request
c. deposit
24. Department means:
a. section
b. unit
c. subdivision
56
25. Synonym for product:
a. occupation
b. merchandise
c. negotiation
26. Interest means:
a. profit
b. loss
c. gain
27. Synonym for campaign:
a. promotion
b. circumstance
c. distribution
28. Antonym of expansion:
a. contraction
b. consolidation
c. confiscation
29. Position means:
a. presentation
b. post
c. progress
30. Synonym for agency:
a. house
b. bank
c. organization
31. Which is not a synonym for pension:
a. retirement fund
b. allowance
c. tax
32. Salary means:
a. pay
b. wage
c. remuneration
57
33. Synonym for fee:
a. charge
b. income
c. interest
34. Work means:
a. employment
b. occupation
c. job
35. Pensioner means:
a. retired person
b. worker
c. employee
36. Synonym for budget:
a. financial statement
b. business
c. corporation
37. Tycoon means:
a. magnate
b. business person
c. industrialist
38. Synonym for tax:
a. duty
b. tag
c. test
39. Inheritance means:
a. legacy
b. birthright
c. heritage
40. Which is not a synonym for social:
a. public
b. communal
c. seasonal
58
41. Synonym for company:
a. draft
b. corporation
c. market
42. Portfolio means:
a. collection
b. range
c. assortment
43. Synonym for schedule:
a. agenda
b. timetable
c. calendar
44. Synonym for expense:
a. cost
b. expenditure
c. disbursement
45. Which is not a synonym for capital:
a. assets
b. resources
c. goods
46. Item means:
a. article
b. piece
c. thing
47. Synonym for purchase:
a. acquisition
b. sale
c. trade
48. Discount means:
a. reduction
b. price cut
c. markdown
59
49. Synonym for office:
a. headquarters
b. place of work
c. bureau
50. Money means:

a. cash
b. currency
c. capital.
60
BIBLIOGRAFIE
1. Caciuc, Leonora; Costea, Simona - Contabilitate. Teorie şi practică,

Ed. Augusta, Timişoara, 1990
2. Cox, D. - Success in Book-Keeping & Accounts, Hodder Murray,
1990
3. Dansby, Robert L.; Kalister, Burton S.; Strupeck, C. David - College
Accounting, Prentice-Hall Inc., New Jersey, 1989
4. Marcheteau, M. Berman - Business & Economics, Ed. Teora,
Bucureşti, 2004
5. Năstăsescu, Violeta - Dicţionar economic englez-român, roman-
englez, Ed. Niculescu, Bucureşti, 2007
6. Nikolai, Loren A.; Bazley, John D.; Stallman, James C. - Principles
of Accounting, Pws-Kent Publishing Company, Boston, 1990
7. *** Oxford business. Dicţionar englez-român, Ed. BIC ALL,
Bucureşti, 2007
61

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Ozana STRĂUŢ Manuela STĂICUŢ

Descrierea CIP a Bibliotecii Naţionale a României

Asist. Ozana STRĂUŢ

TEMA 1 - CE ESTE CONTABILITATEA ŞI CUM

TEMA 2 - PRINCIPALELE REGISTRE CONTABILE.........................9

TEMA 3 - ECUAŢIA FUNDAMENTALĂ A PATRIMONIULUI .......13

TEMA 4 - PRINCIPALELE TIPURI DE SOCIETĂŢI COMERCIALE

TEMA 5 - CONTUL. DEBIT ŞI CREDIT...............................................23

TEMA 6 - BILANŢUL CONTABIL.........................................................28

TEMA 9 - CONTUL DE PROFIT ŞI PIERDERE..................................43

TEMA 10 - DOCUMENTELE ÎN AFACERI .........................................48

1.1. READING & SPEAKING

And then a big smile showed up on the old man’s face:

ANSWER THE FOLLOWING QUESTIONS:

1. Who was the richest person in the old man’s background?

1.2. BASIC VOCABULARY

Accounting vs. bookkeeping

Bookkeeping is the process of recording accounting information for a

Therefore, bookkeeping is only a phase of the accounting process, namely

Financial accounting vs. managerial accounting

Financial accounting provides accounting information for external users in

1.3. TESTE DE EVALUARE

1. career a. make an acquisition

3. Complete the following table:

Verb Adjective Noun

1. He has just employed an accountant for our corporation.

1. Care este momentul oportun pentru vânzarea pasivelor unei societăţi?

2.1. READING & SPEAKING

Lilly is in the seventh grade. One of her assignments for tomorrow is

“What does it mean ‘to audit’ accounts?”

ANSWER THE FOLLOWING QUESTIONS:

1. What is Lilly’s assignment for tomorrow?

2.2. BASIC VOCABULARY

The Basic Account Books

books of prime entry = documente primare

financial statements = documente financiare

2.3. TESTE DE EVALUARE

a. Lilly is in the eleventh grade.

3. Complete the following table:

4. Translate into Romanian:

1. It would be best if they complied with the terms of payment.

5. Translate into English:

1. Costurile de expediere pentru acest bagaj sunt de 50 Ron.

6. Write sentences with 5 words in the vocabulary section.

7. Work in pairs. Use your dictionaries. Find at least a synonym for:

3.1. READING & SPEAKING

ANSWER THE FOLLOWING QUESTIONS:

1. What is the rabbit’s idea?

3.2. BASIC VOCABULARY

The Basic Accounting Equation

ASSETS = OWNER’S EQUITY + LIABILITIES

BUNURI ECONOMICE = CAPITALURI PROPRII + DATORII

3.3. TESTE DE EVALUARE

a. The rabbit doesn’t have any savings, so he goes to the forest

3. Complete the following table:

1. Her son told me he would like to become a successful banker when he

5. Translate into English:

6. Make up sentences with at least 5 words in the vocabulary section.

4.1. READING & SPEAKING

ANSWER THE FOLLOWING QUESTIONS:

1. What was Peter’s extraordinary dream?

Main types of business

SOLE PARTNERSHIP CORPORATION