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c) store;
d) turnover.
5. It shows the relationship among the firm’s assets, liabilities, and owner’s equity.
a) duty;
b) stock;
c) right;
d) responsibility.
6. Liabilities are the firm’s obligations – what is owed to others.
a) assets;
b) debts;
c) profit;
d) overdraft.
7. In a partnership, each partner’s share of the ownership is reported separately by each
owner’s name.
a) position;
b) portion;
c) interest;
d) dividend.
8. It is shown as the total value of its stock, plus retains earnings that have accumulated to
date.
a) account;
b) cost;
c) definition;
d) set.
9. The income statement is sometimes called the statement of income and expenses.
a) tuition;
b) payment;
c) exchange;
d) revenue.
10. A number of financial ratios can also be computed from this information.
a) details;
b) data;
c) interdependence;
d) coefficient.
VIII. Read the following text and make its summary in English:
