You and Business

Business is already an important part of your life.

Therefore, business dealings touch your life every day.

When you buy something you become a customer. You got something you wanted, a CD, for example. However, you did not only satisfy a personal want, you also provided money for both the store that sold the CD and the company that made it. And companies need money in order to stay in business.

Every business also needs people to fill particular jobs in the production of goods and services.

Going to work represents a business transaction. The transaction involves an agreement between you and your employer. When you go to work for someone else, you become an employee.

A job is a continuing business transaction. It represents a cycle of buying and selling. When you accept a job, you agree to sell, or to provide your employer with certain resources, or things of value. These include your skills and your working time. Your employer agrees to buy, or to pay you money for your resources.

The agreement between an employer and an employee is a contract. Under contract, both the employer and the employee have obligations. An obligation under a contract means that you are responsible for keeping your word.

A basic part of the employer - employee business transaction is being paid for your work. A wage is payment in return for work performed. Wages are usually paid on an hourly basis. A salary is a set rate of payment, usually on a weekly or monthly basis. Before you accept a job, you should know how much you will be paid.

A business exists to sell a product. A product is what a business makes or does. Products may be goods or services. An automobile belongs to goods, as a hair dryer does. A haircut is a service. Insurance is a service.

Some businesses offer a combination of the two.

Text 2

I. Remember the following words and word-combinations:

1. accountant	бухгалтер-експерт
2. accounting	бухгалтерський облік
3. entry original entry	бухгалтерський запис первісний запис
4. expenses	витрати
5. figure	цифра
6. financial statement	фінансовий звіт
7. income to draw income	прибуток; доход добувати прибуток
8. to meet needs	задовольняти потреби
9. to meet demands	відповідати вимогам
10. payroll	платіжна відомість
11. proprietor	власник; володар
12. purchase	продавати
13. supplier	постачальник
14. supplies	припаси
15. to record	записувати

II. Read and translate the text: