Scribd
Upload
43 views4 pages

I. Before The Presentation Ex. 1. Study The Topical Vocabulary and Match Words or Phrases With Their Definitions: 1

1. The document provides exercises to help students learn about key concepts related to forming corporations such as board of directors, common stock, incorporation, and asset protection. 2. It includes matching exercises to define legal and financial terms, fill in the blank exercises to practice translating terms, and sequencing exercises to understand the proper order of steps to form a corporation. 3. The exercises are divided into three sections - before, during, and after a presentation - and cover topics like types of corporations, advantages and disadvantages, and responsibilities of different corporate roles.

Uploaded by

Екатерина Белоусова
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
43 views4 pages

I. Before The Presentation Ex. 1. Study The Topical Vocabulary and Match Words or Phrases With Their Definitions: 1

1. The document provides exercises to help students learn about key concepts related to forming corporations such as board of directors, common stock, incorporation, and asset protection. 2. It includes matching exercises to define legal and financial terms, fill in the blank exercises to practice translating terms, and sequencing exercises to understand the proper order of steps to form a corporation. 3. The exercises are divided into three sections - before, during, and after a presentation - and cover topics like types of corporations, advantages and disadvantages, and responsibilities of different corporate roles.

Uploaded by

Екатерина Белоусова
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

I.

Before the presentation

Ex. 1. Study the topical vocabulary and match words or phrases with their definitions:

a.  Board of directors (B of D) 1. a component of financial planning


intended to secure one’s assets from creditor
claims
b. Legal right 2. the legal process used to form a corporate
entity or company
c. Asset protection  3. the government agency, the task of which
is to collect all tax revenues due in a fair and
efficient way with limited costs for taxpayers
and the tax administration itself
d. Incorporation 4. an elected group of individuals that
represent shareholders. The board is a
governing body that typically meets at regular
intervals to set policies for corporate
management and oversight
e. Common stock 5. to carry out the terms of something, such as
a contract or obligation
f. To satisfy an obligation 6. a security that represents ownership in a
corporation: if a company goes bankrupt, the
common stockholders do not receive their
money until the creditors, bondholders, and
preferred shareholders have received their
respective share
g. Tax administration 7. a claim recognizable and enforceable at law

Ex. 2. Make the following sentences complete by translating the words and phrases in
brackets:

1. The (регистрация) of family business remains his top priority.

2. Manufacturers, importers and formulators (несут ответственность) to assess their products


and inform users.

3. Investors started to withdraw funds from (рисковых активов) worldwide.

4. Some countries introduce specific incentives to (для привлечения инвестиций).

5. The (корпоративный устав) establishes eligibility criteria for the corporate secretary.


Ex. 3. How to Form a Corporation

Choose the correct order for the stages of the formation of a company

File the Articles Create the Obtain Choose a Hold a First Appoint
of Incorporation Corporation’s Required Business Meeting of the the
Bylaws Licenses Name Board of Directors
and Directors
Permits

1.

2.

3.

4.

5.

6.

II. During the presentation:

Ex. 4. Fill the gaps with the main types of corporations.

Types of corporations

Ex. 5. Match the statements with the appropriate category

ADVANTAGES DISADVANTAGES

 The limited liability protection the corporation status affords its shareholders
 A corporation has perpetual duration
 The possibility of double taxation
 Corporations are highly regulated and often require attorneys and accountants to remain
in compliance with the State and to navigate all the administrative complexities
 The relative ease in which a corporation can raise capital and attract talent
 A lot of paperwork, bylaws, notices, waivers and your reports and multiple tax returns,
not to mention regular annual meetings

Ex. 6. Find out the distinctive features of the corporation

Board of Directors; unlimited liability; corporate taxes; only registration in the trade register is
required; the business has no independent legal status; perpetual existence; limited liability;

III. After the presentation:

Ex. 7. Match the companies with the correct column

CORPORATIONS SOLE PROPRIETORS

Apple McDonald’s Domino’s Pizza

General motors
Cargill Amazon

Ex. 8. Match the positions with their responsibilities:

a. President or Chief Executive Officer (CEO) 1.this person leads the business and is
responsible for the board’s actions. He or she
acts as the public face of the company
b. Inside Directors 2. this officer is in charge of finances. He/she
writes budgets, tracks spending and writes
reports
c. Secretary 3.they have the same responsibilities as inside
directors, but they are not officers or
managers
d. Vice President or Chief Operations Officer 4.this officer is a senior executive. He/she
(COO) runs the daily business, marketing,
production, sales
e. Chairman 5.they are in charge of budgets, implementing
and monitoring business strategy, and
approving core corporate projects
f. Treasurer or Chief Financial Officer (CFO) 6.this officer enforces policy, signs
documents, works with the board of directors
and is responsible for the corporation’s entire
operations
g. Outside Directors 7.this officer keeps records, minutes, and
books

Ex. 9. Watch the video and answer the questions


1. What do the articles of incorporation require?
2. What is the purpose of a registered agent?
3. What is the Form 2553? Why do you have to file it?
4. What are the responsibilities of S Corporations?
5. What is one of the advantages of being an S Corporation?
6. What are the S Corporation tax responsibilities?

Ex.10. Case Study


Maximillian Diehard incorporates his automobile sales company, hires four employees, and
proceeds to do business. Max is not making the amount of money he had envisioned, and things
come up. It is learned a couple of years after opening of the car lot that, while he did make the
proper payroll tax deductions from his employees’ paychecks, Max never passed those tax
monies on to the government.
When Max is accused of tax fraud, he attempts to hide behind the protections of his corporation,
believing it will protect his personal assets if he is found to have perpetrated this type of tax
fraud.
Discussion Questions:
1. What was Max’s mistake?
2. What is possible for Max to avoid this accusation?

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy