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Exercise 7. Translate the text
Corporations
The purpose of a business is makingprofit. It is operated
by individuals. Their shares are represented by stock cer-
tificates. A person who owns a stock certificate is called a
stockholder.
There are several advantages ofthe corporate form of
ownership.
First is the ability to accumulate financial resourses. The
second advantage ___ the corporation can raise a large amount
of capital and invest in plants, equipment and research. And the
third, a corporation can offer higher salaries and thus attract
talented managers and specialists.
The privately owned business corporations are one type
of corporations. There are some other types too. Educational,
religious, charity institutions can also incorporate. Usually such
corporations do not issue stocks and are nonprofit. If there is a
profit, it is reinvested in the institution rather than distributed
among the private stockholders.
In some western countries federal government and special
agencies can establish government corporations. A few
examples of these are state universities, state hospitals and city
owned utilities. Governmental corporations are non-profit as a
rule and do not issue stock certificates.
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