The Infinitive, Past Participle and the “-ing” form

(Revision)

Exercise 3.9.1

Choose the correct form of the Verbals.

Figures (appearing/appeared) in the balance sheet represent the historical value of the stock of assets available to the firm (to generate/generating) sales and profits. Because the value of assets is (base/based) on original purchase price they tend to understate the real value of these assets if they had to be (replacing/replaced). In high inflationary periods, the cost of replacing (existing/existed) assets is relatively high. As a result, by (understating/having understated) the value of these assets, the returns on these assets become (overstating/overstated). Attempts have been made (state/to state) assets on a replacement basis, but accountants have been unable to resolve this problem to everyone’s satisfaction.

Generally (spoken/speaking), however, the balance sheet is a statement of assets, liabilities, and stockholders’ equity. As of a certain date, the left side on this statement shows a breakdown of current assets in the form of cash and other assets that (constituting/constitute) the working capital of the firm. Fixed assets are mainly long-term investments, including plant and equipment.

The right side of the balance sheet shows current liabilities, (consisting/consisted) of accounts payable, notes payable, and other short-term liabilities. From this point on you find long-term debt, which has a maturity date of over 1 year. This part of the balance sheet may also include the capitalized value of financial leases. After you (deduct/deducted) the liabilities from the assets, the (remaining/remained) value is the net worth of the firm. The components of net worth include the par value of common stock outstanding^[8], paid-in capital surplus^[9], and retained earnings (being accumulated/accumulated) from previous profits generated by the firm after the deduction of dividend payments. If the firm were (liquidated/liquidating) and all creditors’ claims (paid off/paying off), the net worth is what would be (left/leave) over for distribution to the stockholders.

By (deducting/deduct) current liabilities from current assets, you can find out something about the liquidity of the firm, and by matching profits against the assets invested in the firm, you can gain some idea of how effectively the firm has utilized assets to generate profits.

Exercise 3.9.2

Open the brackets, putting the verbs in the correct forms. Make use of the table above.

1. You can find out this bank’s phone number by looking (look) in the directory.

2. Last year our company attempted to take over (take over) its nearest competitor.

3. The growth in multinational corporations manufacturing and trading (to manufacture and trade) on a worldwide basis has led to the growth in the overseas operations of major banks over the last twenty years. 

4. As is known, a bank’s size is a significant factor in determining (determine) how banks are organized.

5. One of the most important functions of a central bank is to accept responsibility for advising (advise) the government.

6. Earning (Earn) profits cannot be the responsibility of business, because its main exercise is to create organizations with a real commitment to the community.

7. The Anti-Monopoly Minister was accused of being inefficient (to be inefficient) because he discourages original ideas and postpones decision-making.

8. Increasing / To increase / Having increased (Increase) its range of services to private individuals, our bank is installing (install) and is continuing to develop its own electronic transaction card system.

9. Hoping (Hope) to restore investor confidence, the US administration has adopted a law tightening (tighten) regulation of companies’ financial reporting.

10. Deposits, payments and credits are the basis of the services offered (to offer) by banks.

11. The services make it possible for banks to generate profits and achieve their operating (to operate) aims.

12. The necessary information is provided (to provide) by the profit and loss account for the period in question.

13. A bank's accounting (to account) systems are designed (to design) to record and present the many transactions that take place every day.

14. A bank should have retained (to retain) profits in the business for future operations. 

Exercise 3.9.3

Do it in Russian

1. Устав от борьбы за контроль над компанией, в которой конкуренты использовали доверенности на голосование на общем собрании, они сдались. Tired of proxy fights (an attempt to gain control of a company by persuading existing shareholders to vote into office a new team of directors, voting by proxies), they gave in.

2. Я не знал, что, владея акциями компании, я буду ее совладельцем.  I didn’t know that owning shares of the company I’ll be its co-owner.

3. Мужчина с портфелем ручной работы вон там – это посредник, представляющий компанию-конкурента. A amn with a hand-made suit-case over there is a middleman, representing a rival company.

4. Какие проблемы обычно ассоциируются с дефицитом платежного баланса? What problems are usually connected with an unfavorable balance of payments? What are the problems commonly associated with deficits in an unfavorable balance of payments?

5. Импортированное оборудование составило почти одну четвертую часть всего машинного оборудования проданного в стране. Imported equipment amounted to nearly a quarter (one-fourth) of the total sold in the country.

6. Судя по тому, что было только что упомянуто, производители могут покрыть кое-какие свои производственные издержки с помощью предоставленной субсидии. Judging by what has just been mentioned, manufacturers may cover some of their production costs with the help of subsidy.

7. Не зная полного адреса бенефициара, агент не смог послать письмо. Not knowing beneficiary’s full address, the agent could.t have sent a letter.

8. Контракт содержит статью, предусматривающую, что все споры, время от времени возникающие по нему (по контракту), должны передаваться в арбитраж. The contract includes an article providing that all the disputes from time to time arising on it (the contract) mustl be submitted to arbitration.

9. Зная, что уровень продаж начал снижаться, мы предложили бартерную сделку. Knowing that sales began to decline, we suggested a barter deal.

10. Бесполезно вкладывать средства в это предприятие. Я получил внутреннюю закрытую информацию: им угрожает недружественное поглощение. It is useless to invest in this venture. I’ve got insider information that there is a risk of hostile takeover.

11. Так как эти запчасти не продаются по текущей цене, они всегда пользуются спросом. These spare parts not being sold at the current price, they are always in high demand.

12. Потребовав, чтобы платеж был осуществлен безотзывным ак-кредитивом, они также настояли, чтобы партнеры подтвердили его через Лондонский банк. Demanding that payment should be made by an irrevocable letter of payment, they also insisted on their partners to confirm it through the London bank.

13. Пытаясь ограничить предложение и контролировать цену на конкретный товар, картели регулярно собираются, чтобы решить, сколько товара продавать и сколько брать за свой продукт. Trying to limit the supply and control the price of a particular item, members of cartels meet regularly to decide how much to sell and how much to charge for their product

14. Называя по буквам слово, когда я говорю по телефону с человеком, говорящим по-английски, я всегда пользуюсь официальным алфавитным кодом министерства почт Великобритании. Spelling a word when I'm talking on the phone with a man speaking English, I always use official alphabetical code of the UK Ministry of postal services.

15. Проценты по депозиту выплачиваются по ставке, определяемой банковской базовой ставкой. The rate of interest paid on a deposit is defined by the Bank base rate.

16. Секретарь, печатавшая письмо, работала, не говоря никому ни слова. The secretary, typing the letter, was working without telling anybody a word.

17. Секретарь, печатавшая письмо для своего шефа вчера, считает, что оно очень важное для поставщиков. The secretary, who typed the letter for her boss yesterday, considers this letter to be very important for the suppliers.

18. Упомянутая цена была на 5% ниже, чем та, которую платили по предыдущему контракту. The price mentioned was 5 % lower than that paid on the previous contract.

19. Введя налог, которым облагаются ввозимые в страну товары на основе их стоимости или количества, страна уменьшила объем импорта и таким образом скорректировала дефицит платежного баланса.   Imposing a tax, levied on goods imported into the country on the basis of their value or quantity, the country reduced the imports and thus adjusted the unfavourable balance of payments.

20. Покупатели согласились оплатить сумму счета-фактуры против представленных документов, не отклонив заказ.  Buyers agreed to pay the invoice against the documents.

21. Получив чрезвычайно высокие прибыли, компания испытывала трудности, т.к. ее подозревали в инсайдерской торговле.  Having received extremely high profits, the company had difficulties, as it was suspected of insider trading.

22. “Ты бы лучше привел в порядок свой личный бюджет, чем жить постоянно в долг,“- посоветовал Г. Грант Питеру. You’d better adjust your personal budget rather than be always in the red – HG advised Peter.

Exercise 3.9.4