1. 1 ENGLISH – LEVEL VI Week 13 – Lesson 2 3 1

2. 2 Mock test I Complete the text using the given words: audit equity cash flow debt gross profit inventory liabilities analysis assets insight Balance Sheet It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has (__________________) by either borrowing money (liabilities) or getting it from shareholders (shareholders' __________________). Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, __________________ and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long- term _______________. The balance sheet, along with the income and cash flow statements, is an important tool for investors to gain ________________ into a company and its operations.

3. 3 Mock test KEY: Balance Sheet It's called a balance sheet because the two sides balance out. This makes sense: a company has to pay for all the things it has ( assets ) by either borrowing money (liabilities) or getting it from shareholders (shareholders' equity ). Each of the three segments of the balance sheet will have many accounts within it that document the value of each. Accounts such as cash, inventory and property are on the asset side of the balance sheet, while on the liability side there are accounts such as accounts payable or long-term debt. The balance sheet, along with the income and cash flow statements, is an important tool for investors to gain insight into a company and its operations.

4. 4 Mock test II Complete the text using one letter per each gap: The cha_ _ clear_ _ shows the dra_ _ _ _ _ fall in production sin_ _ the beginning of the y_ _ _, and unfort_ _ _ _ _ _ _, this is a tre_ _ which w_ _ _ continue. T_ _ closure of our Lufwa pl_ _ _ in January ac_ _ _ _ _ _ _ for the sha _ _ fall at that time and, as sal_ _ have continued to de_ _ _ _ _, we have had to temporarily shut d_ _ _ a number o_ our factories. These are diff_ _ _ _ _ times for the com_ _ _ _.

5. 5 Mock test KEY: The cha rt clear ly shows the dra matic fall in production sin ce the beginning of the y ear, and unfort unately, this is a tre nd which w ill continue. T he closure of our Lufwa pl ant in January ac counted for the sha rp fall at that time and, as sal es have continued to de cline, we have had to temporarily shut d own a number o f our factories. These are diff icult times for the com pany.

6. 6 Mock test III Complete the gaps using the correct future form (Future Simple, be going to, Present Simple, Present Continuous, Future Perfect Simple): 1. I promise I ______________ (call) you as soon as I have any news. 2. Our representative __________________ (fly) to Berlin tomorrow. 3. I heard that you won the employee of the month award. What _________ (you / do) with all that money? 4. We ____________________ (finish) the project by 2012. 5. The conference __________________ (start) at 9:30.

7. 7 Mock test KEY: 1. I promise I will call (call) you as soon as I have any news. 2. Our representative is flying (fly) to Berlin tomorrow. 3. I heard that you won the employee of the month award. What are you going to do (you / do) with all that money? 4. We will have finished (finish) the project by 2012. 5. The conference starts (start) at 9:30.

8. 8 Mock test IV Complete the gaps using the correct prepositions: 1. Turnover increased __by_______ more than ten per cent last year. 2. Sales picked ___up_______ well in the first quarter of the year. 3. The trouble __with________ this approach is that it is too costly. 4. They are doing research ____into______ new ways of marketing products. 5. We import meat products ____from_______ China. 6. The prices closed ___at__________ €5.

9. 9 Mock test KEY: 1. Turnover increased by more than ten per cent last year. 2. Sales picked up well in the first quarter of the year. 3. The trouble with this approach is that it is too costly. 4. They are doing research into new ways of marketing products. 5. We import meat products from China. 6. The prices closed at €5.

10. 10 Mock test V Complete the gaps: The ___________________ compare the types of gifts that men and women buy for each other on Valentine's Day. _____________________, it is clearly seen that the most popular gifts in USA are __________________. The most common Valentine's gift is card with ______________________ of men and over ______________________ of women purchase for it. Fair sex prefers to offer candy to their lover, 21% of women ______________________ 14% of man. ____________________, 16% of strong sex prefers buy flowers to ladies, more than 5% of their counterparts. _______________________ of both men and women choose these three items as gifts in Valentine's Day. Other gifts are jewelry, perfume, lingerie, personal care, and so on... In this group, the ___________________ popular gift that men buy for women is perfume (4%) and that women buy for men is personal care (1%). A ___________________ of men spent money in other items, while 17% of women do so. ____________________, the trends of choosing gifts in Valentine's Day in both sexes are not much different. There are plenty of presents can be _______________________, but card, flowers, and candy are the top three gifts.

11. 11 Mock test KEY: The pie charts compare the types of gifts that men and women buy for each other on Valentine's Day. Overall, it is clearly seen that the most popular gifts in USA are card, flowers and candy. The most common Valentine's gift is card with nearly one fifth of men and over one quarter of women purchase for it. Fair sex prefers to offer candy to their lover, 21% of women compared with 14% of man. In contrast, 16% of strong sex prefers buy flowers to ladies, more than 5% of their counterparts. About a half of both men and women choose these three items as gifts in Valentine's Day. Other gifts are jewelry, perfume, lingerie, personal care, and so on.... In this group, the least popular gift that men buy for women is perfume (4%) and that women buy for men is personal care (1%). A quarter of men spent money in other items while 17% of women do so. In conclusion, the trends of choosing gifts in Valentine's Day in both sexes are not much different. There are plenty of presents can be purchased, but card, flowers, and candy are the top three gifts. (suggested answers)

12. 12 Mock test VI Make sentences using the following words: 1. quota, impose _______________________________________________________________ 2. dominate, niche market _______________________________________________________________ 3. debts, settle, bankruptcy _______________________________________________________________ 4. trade union, strike, not honour _____________________________________________________________________ 5. magnitude, estimate _____________________________________________________________________

13. 13 Mock test KEY(suggested anwers): 1. quota, impose – USA imposed quotas on Chinese import. 2. dominate, niche market – This manufacturer dominates the healthy food niche market. 3. debts, settle, bankruptcy – If they cannot settle the debts, they will file for bankruptcy. 4. trade union, strike, not honour – The trade union will call a strike if the company doesn’t honour the agreement. 5. magnitude, estimate – We have to estimate the magnitude of financial problems.

14. 14 Describing trends – review

15. 15 Describing graphs – review KEY: A: There has been a steady/gradual rise in production over the year. B: Production started climbing steadily but flattened out at a level of around 70. Since then, it has fallen steadily. C: Production grew more and more rapidly over the first three quarters but then reached a peak. Since then, it has quickly dropped. D: Production grew rapidly in the first quarter, but reached a plateau of about 70. Since then it has remained more or less stable. E: Production has dropped slowly but steadily/continually over the year. F: Production started the year in a stable position, but then plunged / dropped sharply in the third quarter. It has now flattened out / levelled off at a level of 20. G: Production fell considerably/steadily over the first three quarters, reaching a low of 20. Since then it has staged a partial recovery. H: Production has fluctuated all year. I: Production started off steady, but fell sharply in the last quarter.