CONTENTS

1. Banking..
2. Means of Payment .
3. On Partnerships .
4. The Globalization of Financial Markets ..
5. New Economic Sectors .
6. Economics, Jobs and Social Benefits
7. Accounting
8. Transportation ...
9. Export-Import
10. How to Encourage Corporations to Behave .
11. Major Trading Blocs Today .
12. Industrial Relations and Human Resources .
13. Currencies .
14. List of Irregular Verbs ..
15. Bibliography .

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14
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UNIT 1
BANKING
Banks can be roughly divided in accordance with the type of
customers they cater for1. Commercial banks, also called highstreet banks, are those which develop services to the general
public, such as the use of a cheque book, the provision of
credit
They are privately-owned profit-seeking institutions. They
accept funds from customers, have extensive branch networks
and are major participants in the clearing 2 system (setting of
debts between banks). They inject large amounts of money
through the economy through cheques, payments made by
direct debit, standing order3 or credit cards. When a cheque is
made out, the payee4 sends or takes it to his bank which credits
the amount to his account and sends the cheque to be presented
to the drawer5s bank through the clearing system. The clearing
system is operated by the Clearing House in London; it adds up
the total amount each bank owes to each other bank and
reconciles6 the difference in the banks accounts with the Bank
of England. The cheque is then sent to the drawers bank which

VOCABULARY
11 to cater for a satisface, a se adresa
22 clearing compensare, cliring; lichidare
33 standing order ordin de plat permanent
44 payee beneficiarul unei pli
55 drawer trgtor, persoan care trage o trat
66 to reconcile a reconcilia, a face s concorde
5

debits the drawers account. Sometimes the drawers bank may

decide not to honour a cheque if there is not enough money
in the drawers account or the cheque is incorrectly written.
Other ways of paying include plastic money, i. e. all types of
plastic cards used instead of cash. A typical bank card can do
three things: it can guarantee a cheque, it can obtain cash from
Automatic Teller Machines (ATMs) and it can pay for goods by
electronic funds transfer at point of sale (EFTPOS). A fourth
use for plastic cards is to give customers credit when they
purchase7 goods or services.
Apart from offering their customers means of payment,
commercial banks also lend them money. In some countries,
some banks specialize in providing loans geared 8 to a specific
public. Among them are building societies9 and Saving and
Loans10 (UK), which gather the savings of millions of shortterm savers and then lend them to home buyers. In the U. K.
for instance, building societies account for most of the
mortgage loans taken out for house purchase, while in other
countries, commercial banks provide the same service.
A Central Bank.
Is the only bank to be allowed to issue banknotes. It is a
Bankers bank and the Governments banker: when short of
money, the government may borrow from the bank. It is also in
charge of the keeping of the countrys gold reserves and it
regulates the flow of capital into and out of the country.
Commercial banks or retail banks.
Fill the short-term needs of companies and individuals.
They provide small businesses with loans, consumer and
installment11 credit, mortgage loans and other kinds of services.

VOCABULARY
77 to purchase a achiziiona, a cumpra
88 to gear a grena, a cupla; a adapta
99 building societies societi de credit imobiliar
1010 saving and loans cooperative de credit
1111 installment plat parial; rat; tran
6

Investment banks (U. S.) or Merchant banks (U. K.).

They are concerned with sophisticated, often innovative
transactions that involve large corporate customers. They
provide corporate finance services to companies: mergers and

acquisitions12, floatations13 on the Stock Exchange, mediumterm loans, export finance, leasing14 etc.
Saving banks.
These banks receive savings accounts and pay interest
to the depositors. The rates of interest vary in relation to the
length of the notice of withdrawal. Term deposits for which the
notice of withdrawal required is longer, have higher rates of
interest.
Building Societies (U. K.).
Obtain funds from private investors by issuing shares
and taking deposits, and lend money for house purchase (or the
purchase of commercial premises15).
Savings and Loan Associations (U. S.).
Cooperative associations formed under federal or state
law in the U. S., that solicit savings in the form of shares,
invest their funds in mortgages and permit deposits in and
withdrawals from shareholders accounts similar to those
allowed for savings accounts in banks.
Hybrid Financial Institutions.
Are created as subsidiaries of large companies which
manufacture and sell heavy machinery, farm equipment and
automobiles. A customer that wishes to purchase goods from
such a manufacturer may arrange financing directly with the
finance company or credit corp, instead of with a bank.
Credit Unions.

VOCABULARY
1212 mergers and acquisitions fuziuni i achiziii (preluri)
1313 floatations lansri, emisiuni de titluri
1414 leasing nchiriere cu opiuni de cumprare; locaie vnzare
1515 premises sediu, cldiri
7

These are associations formed by trade groups which

manage and invest large pools of capital contributed by its
members. People belonging to a credit union may also save
there for their retirement and take out loans at competitive
interest rates.
BUILDING YOUR VOCABULARY
I. Match the following terms with the definitions below:
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)

Automatic Teller Machine

certificate of deposit
interest
clearing
current account
installment
savings account
security
base rate
loan sharking

1) Lending money at extortionate interest rates.

2) Money paid in regular amounts at regular intervals,
for instance when paying back a loan .
3) An asset given by a borrower to a bank against a
loan, credit or an overdraft.
4) A type of bank account the general public is most
familiar with as its aim is to serve customers needs for their
day-to-day operations.
5) Debt instrument issued by banks that usually pays
interests. Maturities range from a few weeks to several years.
6) A method adopted by banks to settle their mutual
indebtedness by exchanging cheques and bills held by each
against the others before settling the cash balance.
8

7) Cash dispenser that has replaced tellers in banks and

are to be found in most busy streets and shopping areas.
8) Prime lending rate or best rate at which bankers
agree to lend money for top borrowers. It sets the annual
interest rate and serves as a reference for the credit terms
granted by banks.
9) A bank account which the account holder pays
money not to be spend for some time and which earns more
interest than an ordinary account.
10) Payment made by a borrower for the use of money
lent to him by a bank or financial institution, calculated as a
percentage of the capital borrowed.
II. Explain the meaning of the following words and
phrases: to ask for security; bill of exchange; to charge
interest; clearing house; credit facilities; to deposit money with
a bank; to draw a bill; to discount a bill; to grant a loan; fundraising; loan on mortgage.
COMPREHENSION CHECK
I.

Translate into English:

1) Putei plti prin cec, ordin de plat sau cashiers

check. Aceast plat trebuie s fie tras asupra unei bnci din
Statele Unite.
2) Suntem gata s acordm un mprumut, cu condiia s
fie garantat.
3) Noi oferim credite clienilor notri i le acordm
condiii avantajoase de rambursare.
4) Care este cursul de schimb al zilei pentru lir n
raport cu dolarul S. U. A.?
5) Ei nu au ntocmit documente care s precizeze
condiiile mprumutului.
9

6) Cererea dumneavoastr de cumprare a fost refuzat

deoarece ai depit limita creditului acordat.
7) Ca o garanie v vom oferi titluri de valoare.
8) Rata de baz este rata pe care bncile o aplic celor
mai solvabili clieni.
II. Multiple choice questionnaire:
1) I have been requested to . a deposit.
a) leave
c) put
b) let
d) do.
2) Your payment is .. and your account is
now in the red.
a) overtime
c) overtaxed
b) overdue
d) overcome.
3) The bank does not want to lend me any money. I
shall have to go to the
a) borrower
c) pawnbrokers
b) hireling
d) cash-register.
4) Counterfoil is a synonym for
a) stub
c) coupon
b) ticket
d) draft.
5) A bill of exchange is drawn up by
a) the prayer
c) the creditor
b) the debtor
d) the drawee.
6) When the acceptor stipulates some special condition,
the acceptance of a bill is said to be .
a) particular
c) specialized
b) qualified
d) peculiar.
7) A hire purchase transaction involves payment by
..
a) scattering
c) settlements
b) installments
d) periods.
8) The contract provides for the to leave
10% of the loan on deposit.
10

a) lender
b) depositor

c) borrower
d) creditor.

III. Translate into Romanian:

The U. S. banking system was eventually deregulated in
the 80s; Automated Teller Machines could operate across
states, a regional banking entity in New England was declared
constitutional in 1983, which enable the creation of several
regional banking groups, known today as regionals as
opposed to the traditional commercial banks called moneycenter banks. But the 80s were also marked by a surge of
indirect regulation because of the numerous scandals and
failures affecting U. S. banking institutions at the time, notably
among Savings and Loans (S & Ls) which are thrift institutions
specialized in mortgage loans.
FOCUS ON GRAMMAR
MODAL VERBS
can

could

can expresses something possible:

Our factory can produce 800 cars a month.
Visas can be difficult to obtain sometimes

could expresses possibility (ability) in the past:

We could understand most of what he said.
I could speak French quite well when I was at
school.

can not or could not express something

impossible:

11

You cant get to London on time, there is a strike.

You couldnt go on trips abroad ten years ago.

could + have + past participle expresses

unfilled opportunity:
I could have booked an earlier flight, but it left at 7
a. m.

couldnt + have + past participle expresses a

past impossibility:
He couldnt have had any engine trouble.
I. Fill in the banks with CAN(T)/COULD(NT) +
the right infinitive form of the verb:
1) Im afraid I . (help) you at the moment.
2) The negotiations broke down because we ..
(agree) on the price.
3) Mother, you (cook) a better meal,
everything is delicious.
4) Dont light a match in this chemical factory. It
(cause) an explosion.
5) He (hear) the news on the radio
because be was sleeping then.
6) No one (do) without water.
7) He (solve) the first problem, but the
second one was quite a puzzle to him.
8) Im sorry I (come) to your talk
yesterday. I had to sort out a problem.
9) He (ski) really well when he was in
his twenties, but now be is out of practice.
10) What (you, do) with the money if
you hadnt bought yourself a new watch?
II. Rewrite the following sentences using could or
could not:

12

1) Ten years ago it wasnt possible to have hard

currency on you.
2) She drove a car with the brakes out of order. An
accident was possible.
3) It was very difficult to buy a suitable office at a
reasonable price, that is why we preferred to rent one.
4) She was able to speak Spanish after only three
months on the training course.
5) From our hotel room, it was possible to see Mont
Blanc.
6) Although we tried hard, it was impossible for our
company to get that contract signed.
7) He didnt manage to understand what she meant.
8) It wasnt possible for us to lock the door yesterday
morning; we had lost our keys.
III. Translate into English:
1) Mi-a spus c s-ar putea s ntrzie.
2) Peter nu a putut s scrie eseul singur, aa c a rugat-o
pe sora lui s-l ajute.
3) Nu te duce acum la ei, s-ar putea s fie la mas.
4) Am vzut-o pe Sarah asear la concert, dar nu m-a
recunoscut. Nu se poate s fi fost Sarah, pentru c este n spital
de dou sptmni.
5) Presupun c a putea s fac munca asta dac ar fi
necesar.
6) Trebuie s pleci? Nu mai poi s stai puin?
7) Din fericire, am putut s-mi fac muli prieteni de
cnd am venit n acest ora.
8) E posibil s refuze s te ajute n astfel de
mprejurri?
9) Am putut iei n grdin dup ce a stat ploaia.
10) Sandra a spus c o s-i poat gsi o cas dac noi o
s-o ajutm.
13

VOCABULARY PRACTICE
I. Say whether the idioms in the following sentences
are used correctly (true) or incorrectly (false):
1. My cousin is very strong. Hes extremely tight-fisted.
2. The bank manager was arrested for cooking the books.
3. Men are not usually invited to a hen party.
4. To eavesdrop is to listen accidentally to a private
conversation.
5. To grease someones palm means to tell his or her
fortune.
6. A travelling salesman often has to live out of a suitcase.
7. He cant read music; he plays the piano by ear.
8. The pop concert was a disaster. It went like a bomb.
II. Find the nouns corresponding to the following
verbs, then use them in sentences of your own:
disturb
suggest
argue
describe
choose
promise
admire
understand
warn
live
ignore
attend
permit
laugh
III. Comment upon the proverbs:
He that goes a borrowing, goes a sorrowing.
No garden without its weeds.
14

TRUE
[ ]
[ ]
[ ]
[ ]
[ ]
[ ]
[ ]
[ ]

UNIT 2
MEANS OF PAYMENT
The services that banks provide in foreign trade are handling
shipping documents, the observance of buyers conditions of
purchase, discounting bills, loans to exporters, collecting
payments In foreign trade, you must use the services of a
bank in making payments.
Payments may be effected in advance, where the
customer is unknown to the vendor1, or in the case of a single
isolated transaction (by bankers draft or wire transfer).
Payments are effected on open account if the customers
standing is unquestionable or if the seller has complete
confidence in the buyer (payments made by bill of exchange or
wire transfer).
Bill of exchange (or draft)2
An order requiring the person to whom it is addressed to pay
on demand or at some future date a stated sum of money to, or
to the order of, a specified person, or to bearer. It requires
acceptance by the drawee3. There are three parties to a bill of
exchange: the creditor, who draws the bill (drawer), the debtor,
upon whom the bill is drawn (drawee), the person to whom the
money is to be paid (payee), and who may be the drawer
himself or a third party to whom the drawer is indebted.
Promissory note4

VOCABULARY
11 vendor - vnztor
22 bill of exchange (or draft) trat, efect de comer
33 drawee tras, persoan asupra creia se trage o trat
44 promissory note billet la ordin
15

A promise, signed by the debtor, to pay a certain sum of

money at a certain date. It is a formal document which may be
produced as evidence of a debt.

Bankers draft5
A draft drawn by a bank upon another bank, or ordering one of
its own branches or agents to pay on demand a certain sum of
money to a specified person. Such drafts may be bought by
customers who have to travel, or they may be used to settle
foreign debts.
Letter of credit6
A letter issued by a bank and requesting a correspondent
abroad to advance money to the bearer (for a specified or
unlimited amount) and to draw upon the issuing bank for the
corresponding sum.
Documentary bill7
The seller sends, via his own bank to the buyers bank, a bill of
exchange accompanied by the documents in connection with
the goods (the shipping documents). The documents in
question, which allow you to take possession of the goods, are
only released against payment of the bill, if the bill is a sight
draft (documents against payment) or against acceptance of the
bill, if it is drawn payable 60 or 90 days after sight (documents
against acceptance).
Documentary letter of credit8

VOCABULARY
55 bankers draft trat bancar
66 letter of credit - acreditiv
77 documentary bill trat documentar
88 Documentary letter of credit acreditiv documentar
16

The letter of credit is the most generally used method of

payment in foreign trade to settle debts (individual transactions
or a series of transactions).
The buyer instructs his bank to issue the letter of credit
for the amount of the purchase in favour of the foreign seller, i.
e. be requests his bank to issue a credit in favour of the seller.
The instructions will generally be on a printed form of
several copies and detail the transaction as agreed between
seller and buyer. The customers bank, the issuer, sends these
instructions to a branch or any other bank (an agent bank9), the
advising bank, in the sellers country. On receiving the
instructions, the bank in the sellers country informs the seller
of the credit. Usually, in foreign trade, the bank in the sellers
country confirms the credit. When the credit is confirmed it
becomes irrevocable (irrevocable letter of credit10). This means
that the bank undertakes to pay the vendor the amount due to
him up to the time (date) of expiration, provided the conditions
stated in the letter of credit have been complied with 11 and the
vendor has presented the relevant documents.
A Letter of Credit is not necessarily paid immediately on
execution of the order. If agreed between vendor and customer,
the vendor may draw a bill of exchange on the agent bank in
his own country which will accept it against the documents in
connection with the goods. This gives the customer credit
while allowing the vendor to discount the bill, i. e. to receive
his money at an earlier date. If the documents are handed over
by the master of the ship or some other person, when the
importer signs draft, the operation is known as documents
against acceptance.

VOCABULARY
99 agent bank banc corespondent, o banc din ara
vnztorului care colaboreaz cu banca din ara cumprtorului
1010 irrevocable letter of credit acreditiv irevocabil
1111 to comply with a se spune; a accepta, a ncuviina; a fi n
concordan cu, a respecta
17

The Letter of Credit facilitates trade with unknown

customers and protects both vendor and customer. The vendor
feels secure because he knows payment is guaranteed and the
customer also feels secure since the bank in the sellers country
will not pay on his behalf until the conditions set out in the
letter of credit are fulfilled by the seller.

BUILDING YOUR VOCABULARY

I. Answer the following questions:
1) What are the services that banks provide in foreign
trade?
2) What do you mean by payments? Explain the way
they can be effected.
3) What are the main means of payment?
4) Who are the parties to a bill of exchange?
5) What is a bankers draft? When can you use a
documentary bill?
6) Which is the most generally used method of payment
in foreign trade?
II. Find the words in the right-hand column that
match the words closest in meaning in the left-hand
column:
Shipping
documents
Documentary credit

money that can be moved from one

account to another by the touch of a
personal computer in the comfort of
your home
a bank account from which money has
been overdrawn, i. e. an account which
owes money to the bank

18

Overdraft
Standing order
Universal bank

Correspondent
bank
Credit rating
Electronic banking

the numerical assessment of the risk a

bank or financial institution runs in
granting a loan
a bank that carries out all types of
banking operations (commercial and
investment banking)
a bank credit based on the provision of
the correct shipping documents whereby
buyer and supplier shift responsibility
for payment and delivery onto their
respective banks
documents
covering
an
export
consignment; they are handed to the
bank supervising the collection of
payment from the importer
an agreement on the part of a customer
whereby his or her bank is to make
regular payments to another account
banks which maintain accounts with
each other

III. Explain the meaning of the following words and

phrases: issue; foreign exchange; loan on real property;
overdraft; overdrawn account; venture capital; terms of a
loan; to yield interest; default; statement of account.
COMPREHENSION CHECK
I. Translate into English:
1) Evit emiterea de cecuri n acest moment, deoarece
contul meu este deja descoperit.
2) Banca Central a micorat din nou rata de baz
pentru a relansa economia.
3) Spre deosebire de o trat/o cambie, un bilet la ordin
este emis de debitor.
19

4) Tocmai am deschis un cont de economii la aceast

sucursal.
5) Pentru a stvili creterea omajului i a evita o criz
sever, Banca Central i-a diminuat rata de baz cu 5%.
6) n ultimii ani plile prin cri de credit s-au nmulit
n detrimentul celor prin cecuri.
7) Datoria a fost reealonat, ceea ce reduce riscul de
neplat.
8) Plata va trebui efectuat ntr-o perioad rezonabil
n 4-15 zile de la/dup primirea facturii.
II. Multiple choice questionnaire:
1) Most foreign bills are payable 30, 60 or 90 days after
.
a) record
c) fill in
b) sight
d) signature
2) You are supposed to give a few days .......................
before with drawing the balance of your deposit account.
a) period
c) warning
b) delay
d) notice
3) The bill will .............................. due on January 30th.
a) fall
c) get
b) come
d) reach
4) The acceptor of a bill of exchange is the ....................
a) drawer
c) payee
b) lender
d) drawee
5) When making a deposit you to fill in the ....................
a) folder
c) application form
b) paying-in-slip
d) statement of account
6) Banks collect ...................... and lend them out again.
a) coins
c) savings
b) bookings
d) ratings
7) Owing to the credit ........................................... it is
increasingly hard to obtain cash.
a) squeeze
c) back
b) loan
d) stop
8) We grant loans to our clients and arrange
for ..................................... facilities.
20

a) overdrive
b) overdraft

c) overdone
d) overpaid.

III. Translate into Romanian:

Loan documents are signed by the borrower and the
lender. They serve to protect the financial institution and the
borrower and to define the responsibilities and obligations
(terms and conditions) that each party must observe. The
borrower must usually comply with certain financial covenants
related to its financial performance. These are detailed in the
loan agreement along with the financial reporting requirements,
the interest rate and fee structures, and sometimes a repayment
schedule. If the loan is secured, there is usually a security and
collateral agreement, as there is a guaranty agreement if the
loan is guaranteed by a third party.
FOCUS ON GRAMMAR
PASSIVE VOICE

To make the passive we have to use a form of the verb

to be and a past participle.

ACTIVE
PASIVE
The government raised interest rates by 1% Interest rates were raised by 1
Our supplier is shipping the goods next The goods are being shipped
week
We can arrange a loan within six days
A loan can be arranged withi

Sometimes, the doer of the action is not mentioned. It

night be: unimportant, clear from the situation or unknown.
Instead, the important information is either the actions or the
things affected by the action:
21

A very large proportion of world oil is generated in the

Middle East.
These incentives will be offered to retail investors in
EU countries who make an early subscription.
Have/get something done:

When a professional person, a technician or an

accountant, does some work for us, we can use have/get
something done:
We had our offices redecorated last year.
You must have your computers checked for viruses.
We got the contract checked by our lawyers.
I. Put the following sentences into the Passive:
1) They have chosen the new desingn.
2) We cannot ship your order until we receive payment.
3) They will not finish the project by the end of the
month.
4) We are spending more than a million dollars on
advertising this year.
5) Somebody damaged the goods in transit.
6) They have closed fifty retail outlets over the last
year.
7) The Accounts Department may not authorise this
payment.
8) One of our best young designers created this line.
9) Our department has discovered a promising new
drug.
10) He was asking me some difficult questions.
II. Offer explanations or reasons for the following.
Use the passive voice:
22

eg:

Mother looks happy.

She has (just) been offered flowers.

1) I cant drive my car today.

2) There was a long queue in front of the box-office
yesterday.
3) When Mr. Johnson returns to his native town next
year, be will not recognize it.
4) Alice has got a perfect score on her test.
5) Jane likes going to parties.
6) When the seven dwarfs returned home they were
very surprised.
7) The letters were very urgent but nobody posted them
yesterday.
8) Jenny is feeling better today.
III. Translate into English; Use the passive voice as
appropriate:
1) Astzi este 20 octombrie. Telefonul ar fi trebuit pltit
pn acum.
2) Ai prul prea lung. Ar trebui s te tunzi.
3) George a fost externat din spital la dou zile dup ce
a fost internat.
4) A dori s-mi fac o fotografie pentru paaport.
5) Dlomnul Brown dorea s tie dac se servete micul
dejun la hotel.
6) Dac nu se oprea ploaia, ne-ar fi udat pn la piele.
7) Florile acestea ar crete mai bine dac ar fi udate mai
des.
8) Micuului Robert i place s i se spun poveti.
VOCABULARY PRACTICE

23

I. Choose the word or phrase which best completes

each sentence:
1) He was a natural singer with a voice that was as clear
as
a) a waterfall;
b) a lake;
c) a bell;
d) a mirror;
2) After a good nights sleep he woke up feeling as
fresh as .. and eager to start work again.
a) fruit;
b) a daisy;
c) a kitten;
d) a maiden;
3) He might look kind and sympathetic, but deep down
hes as hard as .
a) nails;
b) mountain;
c) a gangster;
d) an iceberg;
4) What on earth have you got in this suitcase? Its as
heavy as ..!
a) an elephant;
b) lead;
c) concrete;
d) a corpse;
5) Pauline cant have emigrated to New Zeeland
because I saw her last night at Simons party, as
. as life.
a) true;
b) real;
c) good;
d) large;
6) Its no use arguing with him, he wont listen. Hes as
stubborn as
a) a mule;
b) a spoilt child;
c) a strawberry;
d) a trade union;
7) Am I nervous? Of course not. Look at my hand-its
as steady as .
a) a bridge;
b) a rock;
c) steel bars;
d) a stepladder;
8) As students, David, Kevin and William were as thick
as .
a) thieves;
b) boy scouts;
c) a team;
d) thistles.
24

II. Replace the words in italics, using the verbs to

live with or without an appropriate adverbial particle and
making any necessary changes:
a) They have inhabited this house for more than ten
years.
b) I hope that from now on he will try to lead such a
life that his past foolishness should be forgotten.
c) I was glad when they told me that the old woman
was still alive.
d) This great personality will never be forgotten.
e) I think be will put his principles into practice.
f) He wants to enjoy life, not to lead a monotonous
existence.
III. Give the antonyms of the following words:
1. to forget
2. stupid
3. true
4. pure
5. dark

6. handsome
7. seldom
8. to whisper
9. love
10. sweet.

IV. Comment on the proverbs:

After a thrifty father, a prodigal son.
Prosperity lets go the bridle.

25

UNIT 3
ON PARTNERSHIP
Given the limitations of individual resources and
initiative, the tendency to associate with others to do business
is as old as trade itself. The group thus formed may be a family,
or associates whose number increases the influence and the
bargaining power of the group, or partners that provide money
or specific skills.
A partnership1 is defined as the relation which subsists
between two or more people carrying on business in common
with a view to profit. The number of partners must not exceed
20. There are two categories of partnership. In an ordinary
partnership, al the partners are liable for 2 the debts of the
firm; in a limited partnership, limited partners are only liable
to the extent of their own financial contribution, but they do not
take an active part in the running of the business. But since we
are in the field of an Association of persons, there must be at
least one general partner or an acting partner whose liability for
the debts of the firm is not limited.
The partnership differs in theory from the business corporation
in that the latter is viewed as a legal person, separate and apart
from its shareholders3. The partnership is generally regarded as

VOCABULARY
11 partnership societate n nume colectiv; asociaie
22 to be liable (for) a fi rspunztor, responsabil (pentru)
33 shareholders acionar, deintor de aciuni
26

merely an aggregation of persons doing business under a

common name.
In the usual partnership, each general partner has full power to
act for the firm as be thinks best in carrying on its business.
This is both a strength and a weakness. It makes for prompt
action, but it is difficult to control by agreement or majority
vote. For, as to third persons who do not know of such
limitations, each partner continues to have full power to
commit the firm within the scope4 of its business.
It many ways, the partnership comes off rather poorly when
compared with the corporation. Yet it survives, perhaps
because of its very simplicity. Then there are some areas, law
and medicine for example, where it is not permissible to use a
corporation. But the partnership way of doing business enjoys a
tax advantage in the U. S. The corporation, as a legal person
must pay an income tax prior to 5distributing dividends to its
shareholders (who are also taxed); such tax is not levied6 on the
partnership.
The limited partnership is a partnership consisting of one or
more general partners whose liability is limited to the amount
contributed to the firm as capital. It came into use in the U. S.
in the 19th century for two reasons: the need of new commercial
ventures7 for increased capital and the difficulty of obtaining
corporate charters8, which required special legislation.
The status of the limited partner is much better than of the
silent partner at common law. The limited partners position
is more like that of a lender, but there are some substantial
differences. In the first place, upon insolvency9 the lender may

VOCABULARY
44 scope domeniu; competen, nelegere; proporii
55 prior to nainte de
66 to levy a tax a percepe un impozit
77 commercial ventures aciune comercial
88 charter document, act; privilegiu acordat unei corporaii
99 insolvency - insolvabilitate
27

advance his claim against the estate as a creditor, while the

limited partner may not, although be may contract for priority
over the general partners. Then, the lender may assert rather
more control over the day-to-day operation of the business
without the risk of being declared a general partner. Finally,
unlike the lender, he may not accept repayments of his
contribution, except on condition that it remains subject to
creditors claims.
However, limited partnerships continue in use, particularly
among brokerage houses. The limited partners contribution,
unlike that of a lender, enhances10 the firms credit position.
The fact that his relationship to the firm must be clearly stated
makes definiteness and gives rise to little litigation11.
BUILDING YOUR
VOCABULARY
I. Answer the following questions:
1) How many categories of partnership do you know?
2) Is there any difference between a partnership and a
business corporation?
3) What do you man by usual partnership?
4) What does limited partnership consist of?
5) What are the reasons the limited partnership came
into use for?

VOCABULARY
1010 to enhance a pune n valoare; a mbunti, a mri, a
spori
1111 litigation acionare n justiie; litigiu
28

II. Match up the following words and definitions:

a. Income
b. Asset
c. Price
d. Capital
e. Cost
f. Profit
g. Supply
h. Demand
i. Return

1. the difference between the price charged for an

item and the cost of the item to the seller
2. everything of value owned by an organization that
can be used to produce goods, or earn power to it
3. the amount of monetary or other returns, either
earned or unearned, over a given period of time
4. the quantity solicited of a certain good that
consumers are willing to purchase at a specified price
in a particular time period
5. the amount of a commodity that producers are able
to offer for sale at a specified price in a particular
time period
6. what is paid or required for acquiring, producing or
maintaining something, measured in money, time or
energy
7. the sum in money or goods for which anything is
or may be bought
8. wealth available for or capable of use in the
production of further wealth, as by industrial
investment
9. the yield or profit from an investment or venture

III. Find the meaning of the following words and

phrases: branch; to draw up an agreement; limited partner;
issued capital; one-man company; to register; share; warrant
to bearer; utility company; trustee; joint stock company.

29

COMPREHENSION CHECK
I. Complete the following with the missing words:
1) Corporate tax is levied on .
a) private persons
b) companies
c) personal property d) professional organizations.
2) Limited partners are liable
a) only to the extent of the sum they have invested
b) for the whole of the debts of the firm
c) for the full extent of their real property
d) only to the extent of the value of their bonds.
3) Equities are ..
a) gilt-edged securities
b) ordinary shares
c) Government stock
d) mortgage bond
4) They eventually had to a loan.
a) to flow
b) to float
c) to throw
d) to subscribe.
5) The annual General Meeting will be
by the Chairman of the Board.
a) presided over
b) presided
c) directed
d) managed.
6) After-tax retentions are
a) what remains after taxation
b) the amount of taxation
c) tax allowances
d) the refund of taxes.
7) seven persons may set up a public
limited company.
a) Every
b) Any
c) Each
d) Many.
8) Land building also go by the name of
a) real property
b) personal property
c) private property
d) personal estate
II. Translate into English:
30

1. Consiliul de administraie intenioneaz o majorare a

capitalului.
2. Noi suntem asistai de un consilier fiscal, care ne
ntocmete declaraiile de impozitare.
3. ntr-o societate n nume colectiv (parteneriat general)
asociaii rspund solidar pentru datoriile firmei.
4. Nevoia de capital i-a determinat s-i transforme
societatea particular cu rspundere limitat ntr-o societate
public.
5. El este membru al Consiliului de Administraie de
doi ani i tocmai a fost reales la Adunarea General Anual.
6. Multe societi (firme) mici, afectate de criz, au dat
faliment.
7. Aciunile sale sunt acum cotate la burs.
8. Se ateapt ca fuziunea s aib loc n foarte scurt
timp.
III. Translate into Romanian:
The law of trusts dates back to the Middle Ages: it
derives from the feudal use invented to soften the hardship
on the common law rules preventing land from being devised i.
e. left by will, and to alleviate the feudal burdens imposed on
freehold tenants. On a freehold tenants death, his son and heir
had to pay the lord of the manor very high feudal dues.
Through the use, by which the freehold tenant enfeoffed
one or several friends, these friends became the legal owners of
the land in the eyes of the common law, and they gave the
tenant (who was not simply the beneficiary of the use) the
revenue of his land.
FOCUS ON GRAMMAR
MODAL VERBS
31


must is used to express an obligation given by the
speaker:
You really must come and visit our shop next week.

must also expresses a necessity or a deduction:

They must go to work every day.
That must be Jane, she always comes late..

mustnt expresses an interdiction:

Pedestrians mustnt cross the road when the light is red.

have to expresses an obligation given by some

external authority:
You have to wear this badge, thats our regulation

dont have to and neednt expresses the absence of

obligation:
You dont have to speak so loudly, I can hear you.

should expresses moral obligation or advice,

suggestion:
She should pay more attention to her spelling.
I. Patrick and Susan are colleagues attending a
conference. Complete the dialogue. Use must, mustnt
or have to:
Patrick:
Susan:
Patrick:
Susan:
Patrick:

Susan:

Well, its been good talking, but Im really tired

now, and I must go end get some sleep.
Really? you go so soon? Lets have
another drink at the bar.
No, really. I If I stayed for another
drink, I know Id be useless tomorrow. And I
start work at 6.00 in the morning.
At 6.00?! Why do you start so early?
Because my head of department wants me to run
a breakfast seminar, and I still have some
preparation to do I . make any
mistakes!
Why the seminar . so early?
32

Patrick:
Susan:

I dont know. Stupid, isnt it?

The things we do for this company!
I think we all work far too hard!

II. Fill in the blanks with must or the present,

future, or past form of have to:
1. Little Simon got lost and ask a
policeman the way.
2. If you buy a radio set you buy a licence for it.
3. Passengers be in possession of a travel
ticket.
4. I never remember his telephone number; I always
... look it up.
5. Children take an important exam at sixteen.
6. Mr. Brown was in a hurry, so he take a taxi.
7. My grandpa is hard of hearing; he wear a
hearing aid all the time.
8. Mr. Barton . cook his own meals next week
because his wife will be away.
9. You see this film. Its really very good.
III. Translate into English:
1) Va trebui s stai aici pn se ntoarce secretara.
Cineva trebuie s rspund la telefon.
2) Ieri diminea a trebuit s m duc dup cumprturi
pentru c aveam musafiri la cin.
3) Nu crezi c-ar trebui s te duci la doctor dac nu te
simi bine?
4) De ce ai cumprat fructe? Am luat trei kilograme de
mere, nu mai trebuia s cumperi i tu.

33

5) E nevoie s art legitimaia de serviciu ori de cte ori

vin n aceast instituie?
6) Mike nu rspunde la telefon. Probabil c a plecat
foarte devreme de acas.
7) Trebuie s predau proiectul de diplom nainte de
sfritul sptmnii.
8) N-a fost nevoie s-i traduc articolul fiindc tie bine
englezete.
VOCABULARY PRACTICE
I. Complete the following proverbs bz choosing an
ending from those marked a p. Then trz to explain what
each proverb means:
1. Absence
2. Beauty
3. First come,
4. When the cats away
5. No news
6. A miss
7. One good turn
8. A bird in the hand
9. A bad workman .
10. Charity
11. Practice
12. Necessity
13. A new broom
14. One mans meat
15. Too many cooks
16. Where theres a will
a. is worth two in the bush.
b. begins at home.
c. is as good as a mile.
34

d. spoil the broth.

e. is the mother of invention.
f. makes the heart grow fonder.
g. always blames his tools.
h. sweeps clean.
i. theres a way.
j. . is only skin deep.
k. .the mice will play.
l. . deserves another.
m. ... first served.
n. makes perfect.
o. is good news.
p. is another mans poison.
II. Find synonyms for the following words and use
them in sentences of your own:
tranquility
beside
to conceal
to scuttle

to point out
to wander
astonished
doubt

to permit
to screech
worried
pleasant

III. Comment upon Alexander Popes statement that

a little learning is a dangerous thing.
IV. Give abstract nouns derived from the following
concrete nouns:
candidate
friend
snob
companion

man
star
father
member

35

UNIT 4
THE GLOBALIZATION OF FINANCIAL
MARKETS

Multinational companies, which continually transfer

funds from one subsidiary1 to the other in different regions of
the globe have also played an important part in bringing about
the interconnection of capital markets. So have nations and
business firms in general, as they compete for foreign capital.
States, for instance, will cut interest rates or provide tax
holidays2 to attract investors from all over the planet.
Capital flows, the lifeblood3 of economic activity, make
it possible to transfer funds when they are more needed, more
productive or more profitable.
Finance executives are more often prompted4 by the
need to spread their risks and to hedge 5 their transactions in the
face of currency fluctuations, their operations may nevertheless
tip the scales6 in favours of short-term financial gain or against
long-term industrial investment.

VOCABULARY
1 subsidiary - filial
22 tax holidays avantaj fiscal
33 lifeblood element vital
44 to prompt a ndemna, a determina
55 to hedge a pune la adpost
66 to tip the scales a face s se incline balana
36

Securitization7, the development of numerous new

financial instruments, such as derivatives8, have made the
market more and more complex. If the free circulation of
money is in itself a positive factor for global economic growth
and international development, the multiplication of offshore
funds9 and tax havens10 is more ambiguous as the purpose
served may be flexibility.
The degree of control of governments over their own
economic and budgetary policy is further weakened by the
tyranny of the market which passes judgments on their
decisions and prompts investors to move in or out
accordingly11.
The Second World War saw major changes in the
international organization of monetary flows. By the end of the
conflict, the United States had indeed acquired a hegemonic
position, owning 70% of the worlds gold reserves. The
monetary authorities of the allied forces thus met in 1944 with
a view to setting up a new international monetary system in
which the dollar would become the standard currency in
international exchanges.
The new system was based on the following three
principles: a) convertibility of currencies, b) fixed parity rule,
and c) the dominant role of the dollar, with gold convertibility.
In 1971 the U. S. Trade Balance showed a deficit for
the first time. As a result, speculation ran high against the
dollar which was devalued by 8% while the Deutschemark and
the Japanese Yen were being 5% reevalued.
77 securitization nlocuirea unui mprumut cu titluri
negociabile
88 derivatives instrumente derivate
99 offshore funds fonduri extrateritoriale

VOCABULARY
1010 tax-havens paradis fiscal
1111 accordingly n consecin
37

Today, the International Monetary Fund has lost much

of its original purpose and strength and has been gradually
replaced by a parallel system operated by the worlds major
banking institutions. By carrying out transactions in more than
one currency and thus using national currencies outside the
country of origin (such as - Eurodollars), multinational banks
have actually set up a new private international monetary
system.
It is becoming difficult to draw a clear line between
normal political business corruption and hard-core 12
organized crime activity. Fiscal evasion, bribery and money

laundering13 entail14 similar techniques, one easily slides15 into

the other.
The globalization of finance and business complicates
the problem of corruption by putting a good deal of activity out
of sight and out of the reach of national jurisdictions.
Nowadays it is almost impossible to separate
international from domestic business. Corrupt activity
anywhere can affect any countrys domestic economy and
institutions in the blink of an eye.
Until recently, multinational corporations accepted
corrupt practices as the price for doing business, if not in their
own countries then certainly abroad. This is now beginning to
change.
BUILDING YOUR VOCABULARY
I. Answer the following questions:
1212 hard core - dur

VOCABULARY
1313 money laundering splarea banilor
1414 to entail a trage dup sine, a cauza
1515 to slide a aluneca
38

1. What does the globalization of financial markets

consist in ?
2. What do states do in order to attract investors from
all over the planet?
3. What do you mean by lifeblood of economic
activity?
4. What are the elements that have made the market
more and more complex?
5. What were the principles the new monetary system
was based on?
6. What has the International Monetary Fund been
replaced by today?
II. Match each of the words on the left with the
correct explanation on the right:
derivatives
hot money
tax haven

tax-holidays

securities firm

offshore banks
open-end
investment
company

- money that is moved around the globe

by speculators to take advantage of the
highest returns
- temporary tax exemptions or tax relief
granted to firms in certain circumstances
- future contracts used by financial
institutions and business firms to hedge
against the evolution of exchange rates,
interest rates, etc
- banks based or operating abroad to take
advantage of a tax system that is more
advantageous than the one of the home
country
- a firm that invests in shares, bonds,
options or money market securities and
that sells mutual funds to the general
public
- a firm that trades in securities
- selling, by lending institutions, of the
negotiable debt instruments in their
possession; the property of such

39

 securitization

instruments passes to the acquirer

- a country or on area where taxation is
lower than elsewhere, for individuals or
corporations

III. Find the meaning of the following words or

phrases: tax holiday; tax allowance; rating agency; offshore
bank; to save; flight of capital; asset management; to float;
outflow; devaluation; hot money; pension fund.

COMPREHENSION CHECK
I. Select the most appropriate answer:
1) An economy allegedly regulated by the law of supply
and demand is a .. economy.
a) free-market
b) liberal
c) marketing
d) commercial
2) During a depression governments try to
.. the economy by voting incentive packages.
a) relaunch
b) trigger
c) boost
d) spurn
3) Expectations of an early in the
economy have been disappointed.
a) revamping
b) refuel
c) reshuffling
d) rebound.
4) There is much concern over a deepening of the
business .
a) show-down
b) slowdown
c) lag
d) slack
5) The Romanian G. D. P. is
a) all that is produced by nationals
b) all that is produced on the Romanian territory
c) all that is produced by foreign people only
40

d) all that is produced by Romanian nationals and

foreign people.
6) As labour costs keep increasing, most industries tend
to become more ..
a) machinery intensive
b) capital intensive
c) production intensive
d) productivity intensive.
II. Translate into English:
1) Creterea ratei dobnzii a provocat un aflux de
capitaluri strine.
2) Capitalul speculativ se deplaseaz n ritm cu
informaiile politice globale i cu informaiile economice
mondiale.
3) Guvernul urmeaz s ia msuri pentru a opri
scurgerea de capital.
4) tiu c aceast investiie depete piaa. Dar care
este randamentul ei real?
5) Puterea dolarului a contribuit la susinerea pieei
valutare.
6) n contrast cu ncetineala dominant, pieele
financiare afieaz rezultate/performane remarcabile.
7) El a fost trimis (numit) pentru trei luni la filiala
noastr din Olanda.
8) Pentru a se mondializa nu este necesar a fi liderul pe
piaa autohton, dar acest lucru ajut, fr ndoial.
III. Translate into Romanian:
The forces driving globalization are the technological
advances that have shrunk the cost of international transport
and communications and ushered in the information revolution.
Globalizations opponents only see the pain of
economic adjustment in the industrial countries, not the

41

growing hope and prosperity that is spreading through much of

the rest of the world.
But the technological breakthroughs that have spawned
the global economy cannot be disinvented. Like the light bulb,
the computer chip is here to stay.
FOCUS ON GRAMMAR
REPORTED SPEECH

When we report what someone else has said or thought

we use reported (or indirect) speech:
Eg.

He said that he couldnt swim.

She insisted that she had to see us.

DIRECT SPEECH
a. Johnny, youve passed
exam.
b. Ill telephone today
this
evening

INDIRECT SPEEC
your I told Johnny hed p
exam.
He said hed telephone
that
day
that
evening
c.
Mr.
Smith
will
be
back They told me Mr. Smith would
tomorrow.
next/the following day.
d. Your parcel arrived yesterday Jane
I told Jane her parcel had arr
before.
e. It happened two hours ago.
They told me it had happene
before.
I. Rewrite the sentences in Reported Speech:
a) Ive read the report and I dont understand section
4, he said.
He said
42

b) When I finish my presentation, Im going to have a

drink, he said.
He said
c) I like playing tennis, but I dont do it very often,
she said.
She said
d) Im preparing the figures but I wont be long, she
said
She said
e) Im going to visit our French subsidiary, but Im not
sure when, she said.
She said
f) We received your order last week, they said.
They said
g) Im sorry about the delay, Ill deal with this now,
be said.
He said
II. Turn the statements, questions and orders below
into reported speech:
a) These shoes are too small. I am returning them to
the shop and I hope I will be refunded, said my aunt.
b) I have just opened a savings account. I want to go
to Bahamas next summer, my friend said.
c) You must take out a mortgage. We can no longer
share this tiny flat , their parents said.
d) Can I buy oil and sugar on credit? My husband will
only get the unemployment benefit next week asked the house
wife.
e) I wont pay the bill. Its simply a rip-off, said the
customer.
f) Why did they sell this wonderful painting at such a
small price? asked Mrs. Smith.

43

III. Change the following sentences from indirect

into direct speech:
1. Linda wanted to know whether George had really
shot that bear.
2. Mother asked me whether I had finished my work.
3. Doris inquired whether he would bring his brother
along.
4. Mike asked his girl-friend whether she liked her new
job.
5. Mary wanted to know what she was supposed to do.
6. They asked whether Jack had been heard of lately.
7. I asked Peter whether be had ever eaten cooked
bananas.
8. Jimmy asked me yesterday whether I had returned
the book.
VOCABULARY PRACTICE
I. Give the Romanian equivalents of
1. clockwise
3. otherwise
5. crosswise
7. lengthwise

2. breadth wise
4. edgewise
6. coastwise
8. likewise

and use the English words in sentences of your own.

II. Replace the words in italics, using to go
followed by one of the adverbial particles: ahead, down,
forward, off, on, out, through, up:
1) What is happening over there?
2) The boys temperature rose fast.
3) A scout advanced to investigate the situation.
44

4) I dont want to leave the house when the wind

blows.
5) How time passes!
6) He has suffered a great deal in his life.
7) She is making progress very fast.
8) The sun was setting already but the little boy was
nowhere to be seen.

III. Choose the word or phrase which best completes

each sentence:
1) Whenever I feel embarrassed I always go as red as
..
a) a rose
b) lipstick
c) raspberry d) beetroot
2) Buying shares in this company is as safe as
.. There is no way you can lose your money.
a) a bank
b) houses
c) gold bars d) a vault
3) She was so tired last night that she slept like
.. until 10 oclock this morning.
a) a squirrel
b) death
c) a log
d) a zombie
4) Wed better get some extra food in if your brothers
coming to stay with us. He eats like !
a) a lion
b) a starving man
c) an eagle
d) a horse
5)
Is the dress too big?
No, not at all. It fits like
a) a mould
b) a glove
c) glue
d) pillowcase
6) James never remembers anything; hes got a memory
like
45

a) cotton wool
b) a mouse
c) a sieve
d) a bucket
7) From the moment they first met they got on like
...
a) two peas in a pod b) fish and chips
c) a house on fire
d) clockwork
8) She was so frightened that she was shaking like

a) the wind
b) a leaf
c) jelly
d) a flag
9) Normally she smoked 15-20 cigarettes a day, but
whenever she was worried or nervous she smoked like

a) a chimney
b) a forest fire
c) a steam engine
d) a salmon
10) News of the new agreement spread like
throughout the factory.
a) wildfire
b) butter
c) the plague d) a flood.
IV. Comment upon the proverbs:
The greatest wealth is contentment with a little.
The fairest snowdrops are among thorns.

46

UNIT 5
NEW ECONOMIC SECTORS

The information explosion and its consequences on the printed

press, radio, TV and telecommunications has resulted in the
creation of vast commercial empires. The economic and
financial interests involved are such that cultural wars actually
become commercial or trade wars.
The multi-media industry, which thrives 1 on such
developments, constitutes at the same time the underlying
technology and the resulting field of activity. No field of
human endeavour2, from advanced research and intellectual
pursuits to entertainment and leisure, from data bases and CD
ROMs to video games is beyond its reach.
One of the most spectacular booms 3 is that in sports, which
have now become big business. A significant part of the
advertising expenditure4 of automobile and sportswear firms
goes into bilboards5 on tracks and stadiums. Brands which have

VOCABULARY
11 to thrive a prospera; a reui; a-i merge bine
22 endeavour strdanie, efort
33 boom ioad de avnt i prosperitate economic
44 expenditure cheltuial
55 bilboard panou publicitar
47

nothing to do with sports are also attracted by the exposure 6

granted to advertisements during matches and races that are
beamed7 to audiences of several million people.
Tourism and travel have also enjoyed tremendous growth since
World War II. Tour operators, travel agencies and hotel clains
offer a wide range of services. In air travel, there is cut-throat
competition8: airlines try to attract young travelers with nofrills9 economy flights, and business people by offering
frequent-flyer schemes10which award regular clients additional
mileage11.
Also to be mentioned is the sector of health maintenance and
pharmaceuticals, with the advances in medicine and surgery,
the rise in life expectancy and the prevailing concern with
health care and fitness, together with the extensive medical
coverage provided by states and private firms in developed
countries, the welfare systems are being criticized for their ever
increasing costs. This field has grown tremendously, and
appeals strongly to investors and private operators.
The tourism industry, which accounts for12 about 6
percent of the world economy, tripled in size between 1970 and
1990, and grows by 50 percent more by the year 2000.
The travel and tourism industry needs to strike a balance 13 with
nature. Travel to faraway, exotic, hard-reach places is a
positive, enriching experience for many tourists, and many are
willing to pay for such experiences.
66 exposure - prezentare
77 to beam a difuza
88 cut-throat competition concuren pe via i pe moarte
9VOCABULARY 9 no-frills redus la esenial

1010 scheme plan, sistem

1111 mileage - kilometraj
1212 to account for a reprezenta
1313 to strike a balance a gsi un echilibru
48

Sustainable growth has become the goal: the development of

locally oriented travel industries that do not exploit local
workers and skim off14 all the profits to multinational corporate
coffers15 thousands, of miles away, all using vast amounts of
electricity, water and other precious resources. Above all,
sustainable tourism involves an integrated approach to
development and must not be simply a marketing ploy 16, says a
report issued by the World Wide Fund for Nature.
It is much easier to navigate the universe of multimedia and
online destinations today than to physically journey anywhere
as a tourist or business traveler.
There are thousands of travel agents listed on the Web
and an ongoing17 boom in the development of Web sites
relating to discount travel, business travel management and
services like renting bicycles or going back- packing18.
Virtual and actual travel have been made easier by instantly
available in formations, instant travel planning and instant
transactions at a very low cost. Travel is a perfect product for
the online era. There are also thousands of CD-ROM titles
concerning travel, many of them interactive.

1414 to skim off a lua, a ndeprta

1515 coffer sipet, cas de bani, (pl.) trezorerie
16VOCABULARY16 ploy stratagem, truc

1717 ongoing n curs

1818 to go back-packing a face excursii, drumeii
49

BUILDING YOUR VOCABULARY

I. Match up the following words and definitions:
A. Eco-tourism

B. Alternative energy
C. Eco-marketing
D. Environmental
audit
E. Trade balance
F. Customs agent
G. Liner agent
H. Routing order

1. its objective is to closely examine are

institutions use of resources such as
materials, that have a significant impact on
the environment
2. a technique enhancing the value of a
product through ecological arguments.
3. renewable and non-polluting energy
obtained from sources other than nuclear
power or traditional fossil fuels
4. those tourist activities focussed on a
(re)discovery of the natural world
5. instructions concerning the route by
which the consignment is to be sent
6. the commercial representative of the
ship owner in a port
7. be performs customs clearance
procedures on behalf of the owner of the
goods
8. the difference over a period of time
(generally a year) between the value of a
countrys imports and exports of
merchandise.

II. Explain the meaning of the following: coverage;

fitness; infotainment; to endorse a product; copyright piracy;
50

sportswear; revenue; stadium; welfare system; tour operator;

track; patent

COMPREHENSION CHECK
I. Translate into English:
1) Dac industria farmaceutic investete att de mult n
cercetare este pentru c un brevet poate asigura dominaia unei
mrci pentru muli ani.
2) Conform acestui studiu, noi medicamente vor
preveni milioane de maladii cardiace n urmtorii 25 de ani.
3) Dincolo de aptitudinile sale de judector, el este
cutat mereu de ctre responsabilii de marketing, ca promotor
i purttor de cuvnt al produselor lor.
4) Hotelul dispune de tot confortul/de toate facilitile i
v putei nscrie la cursuri de instruire n navigaie.
5) Industria de turism este din ce n ce mai contient
sau din ce n ce mai sensibil la prejudiciile pe care turitii le
aduc naturii.
6) Auditul ecologic permite scoaterea la iveal a risipei
de hrtie sau de electricitate n ntreprinderi.
II. Select the most appropriate answer:
1) The .............................. is the amount of money that
exists in an economy at a given time.
a) money mass
b) money load
c) money supply
d) monetary pile.
51

2) When supply exceeds demands, the market will

become ..........................
a) spurred
b) glutted
c) kindled
d) flopped
3) Business ......................... is the key to economic
growth
a) settling
b) building
c) location
d) formation
4) After diversifying in the 70s, large corporations now
tend to concentrate on their .......................... business.
a) major
b) central
c) heart
d) core.
5) The opposite of boom is ........................
a) lump
b) stump
c) slum
d) slump.
6) .............................. prices are expected to increase
by 2,1% over last year.
a) Consumer
b) Consumption
c) Customer
d) Detail
7) A market overloaded with goods is said to be
a .............................................
a) buyers market
b) sellers market
c) purchasers market
d) consumers market
52

8) Leading industrial nations are desperately trying

to ........................... unemployment.
a) curve.
b) curse
c) curb
d) club.
III. Translate into Romanian:
Problems may also arise when the athletes health takes
a turn for the worse. Earvin Magic Johnson, the Los Angeles
Lakers star, is a case in point. When he disclosed that be had
tested positive for HIV, the virus that causes AIDS, the
announcement sent shock waves through the sporting world
and hit the headlines around the country. Admiration of and
supports for his courageous attitude was voiced throughout the
country.
But the marketing companies whose products he had
endorsed faced a dilemma: should Johnson be kept on as a
spokesman? Wouldnt the light-hearted nature of some
commercials seem inappropriate to viewers, given the nature of
his illness? Should the same decision be made for sporting
goods and for other consumer products?
FOCUS ON GRAMMAR
UNCOUNTABLE NOUNS

An uncountable noun has only one form. We cannot use

numbers with it:
Eg.
- substances, materials: water, air, oil, coffee,
money, steel, food, electricity.
- abstract ideas: freedom, progress, health,
trouble, fun.
53

- activities: sleep, music, work, football,

research
- human qualities/feelings: sadness, respect,
courage, honesty, patience.
The following nouns are uncountable in English:
advice, business, cash, furniture, health, homework, luggage,
machinery, money, accommodation, traffic, weather.
A few uncountable nouns and in s: athletics, diabetes,
economics, gymnastics, measles, news, politics.
Uncountable nouns cannot be counted directly;
however, we can count them using phrases like: a piece of, a
bit of, an item of, a cup of, a glass of, a bottle of, a kilo of, a
barrel of etc:
eg.
a piece/two pieces of advice
a bottle/two bottles of water
a bit/two bits of information
a kilo/two kilos of rice
an item/two items of news
a barrel/two barrels of oil.
Singular or Plural?
Some singular nouns can be followed by either a singular verb
or a plural verb: army, audience, board, committee, family,
group, management, staff, team, union:
eg.
The company is/are doing very well at the
moment.
Some nouns have only a plural form and take a plural verb:
eg.
clothes, contents, earnings, expenses, feelings,
goods, police, scissors, remains, surroundings, trousers.
I. Underline the correct words:
a) How much/How many pages are there on your
website?
b) Is/Are there many/much traffic in Geneva?
54

c) How much/How many information have we got

about this company?
d) Where is/are the goods we ordered?
e) There is/are some people waiting for you in
reception.
f) We bought some new equipment/equipments last
month.
g) He gave me an/some advice which was/were really
useful.
h) Im afraid we havent got much/many time.
i) The news is/are on at nine. They may be an/some
information about Davos.
j) You can choose some/any co lour you want.
II. Fill in the blanks with the correct form, singular
or plural, of the verb (use simple present or past tense):
1) The United States .. a great political
and economic power.
2) The youth everywhere .. eager to live
an interesting life.
3) The headquarters located in a
developed area.
4) A lot of information .. necessary for
the new project.
5) The equipment that we ordered . here.
6) Economics studied in all business schools.
7) The ecological farm produce in great
demand.
8) The news about the closure of the company
really de pressing.
9) How much money left in your account?

55

III. Singular or plural? Underline the correct form

of the words in italics in each pair there is one singular
and one plural:
a)
1. The large content/contents of the lorry made
it possible to carry all those goods.
2. The content/contents of the book seemed
interesting enough.
b)
1. The premise/premises may have been good,
but the final result was a failure.
2. The companys premise/premises had to be
redecorated.
c)
1. They had to wait a lot before they passed the
custom/customs.
2. They admired the unique custom/customs
people keep in that village.
d)
1. The sales targets for the first term/terms
could not be achieved.
2. The term/terms of the contract will be drawn
up by the lawyers.
e)
1. The compass/compasses broke, so that the
explorer lost himself in the rain forest.
2. I borrowed his compass/compasses to finish
my diploma design.
f)
1. I need the minute/minutes of the last
meeting.
2. They didnt find out the result of the contest
until the last minute/minutes.
g)
1. The girls tried on a lot of cloths/clothes for
their holidays.
2.She bought some cloths/clothes to have a few
dresses made.
h)
1. The manager has asked us to collect the
figures and submit him the statistic/statistics.

56

2. Students have passed their exams in

statistic/statistics.
VOCABULARY PRACTICE
I. For each of the sentences below write a new
sentence with a similar meaning. Substitute the words in
italics with the word in capital letters plus one of the verbs
in the box:
get

go

keep

make

put

take

1. She was so beautiful that I couldnt stop loking at

her.
EYES

2. Winning that prize has made him very conceited.

HEAD

3. When he was a child he loved dismantling things

to see how they worked.
PIECES

4. I do wish youd stop biting your nails, Brian! It really

annoys me.
NERVES

5. English people in general dont like complaining in

public.
FUSS

6. Shes not really upset; shes only pretending..

ACT

57

7. You made an embarrassing mistake when you asked

him where his wife was. Didnt you realize she was dead?
FOOT

8. I hate the winter it really depresses me.

DOWN

9. Many husbands often dont appreciate their wives,

and vice-versa.
GRANTED

10. Many people nowadays find it increasingly difficult

to exist on the money they earn.
ENDS

II. Translate into English, using, to want wherever

possible:
1. Avem mare nevoie de un bun traductor.
2. Dup cte tiu, fratele lui Petre este lipsit de voin.
3. Vreau ca toat lumea s asculte cu atenie.
4. Maina lor are nevoie de reparaii.
5. Vroiau s treac pe la voi pentru c nu v-au vzut de
mult.
6. Maina lor de scris e att de veche, nct au neaprat
nevoie de una nou.
7. Eti cu totul lipsit de bun sim, cum te poi comporta
astfel?
III. Look up the different meanings of the following
plurals:
1. effects
2. draughts

7. manners
8. letters
58

13. quarters
14. returns

3. dominoes
4. compasses
5. colous
6. minutes

9. grounds
15. premises
10. glasses
16. pains
11. spirits
12. spectacles

IV. Explain and illustrate the following proverbs:

The eye that sees all things else sees not itself.
Many men have many minds.
UNIT 6
ECONOMICS, JOBS AND SOCIAL BENEFITS
In an environment of global free-trade, emerging
countries have successfully industrialized and now export their
productions whose quality, reliability and technology meet the
standards of consumers in developed countries more and more
often.
Faced with such dynamic and aggressive rivals, U. S. and
European firms found that they had no choice but to downsize1
and restructure to remain competitive. As companies shed jobs
to remain lean and mean, the consequence in developed
countries is a high rate of unemployment and in any case the
collapse2 of the social net3, those benefits and entitlements that
had become part of the normal job environment (health
insurance, retirement pensions). Governments, trying to reduce
their deficits, no longer spend so much on welfare and there are
not enough resources to meet the needs of long retiree4 and
unemployed workers.

VOCABULARY
11 to downsize a restructura, a reduce efectivul
22 collapse prbuire, colaps
33 social net reea de protecie social
44 retiree persoan retras din activitate, pensionar
59

The new world order will eventually5 result in a more

satisfactory situation as emerging countries, with the
improvement6 in their standard of living, are ready markets for
the capital goods and consumer goods manufactured in
developed countries. This implies that in future, competition
between emerging and developing countries must be fair.
By the late 1970s, companies were prompted to sanction largescale layoffs7. At first, the job losses occurred largely in
beleaguered8 smokestack industries, like telecommunications
and electronics are shedding jobs regularly. Media companies
are also doing so.
Many of the jobs would disappear in any age when a store
closes or an old product like the typewriter yields to a new one
like the computer.
Three phenomena distinguish this age: white-collar
9
workes are big victims; large corporations account for many of
the layoffs and a large percentage of the jobs are lost to
outsourcing10 contracting work to another company. For
more jobs are being added than lost. But many of the new jobs
are in small companies that offer scant11 benefits and less pay.
Most economists view this interlude as an unavoidable and
even healthy period during which efficiency is created out of
inefficiency. They herald12 the downsizing as necessary to
compete in a global economy. The argument is that some
workers must be sacrificed to salvage13 the organization.
55 eventually n cele din urm
66 improvement mbuntire, ameliorare, progres
77 layoff concediere, disponibilizare
8VOCABULARY8 beleaguered asediat, nconjurat

99 white-collar workes funcionari, gulere albe

1010 outsourcing - externalizare
1111 scant puin, redus, insuficient
1212 to herald a anuna, a proclama
1313 to salvage a salva, a salvgarda
60

But like waves of strung out 14 veterans, the downsized workers

are infecting their families, friends and communities with their
griefs, fear and anger.
Polls15 have shown this anger directed at targets as diverse as
immigrants, blacks, women, government, corporations, welfare
recipients16, computers, the very rich and capitalism itself. The
experts say that part of the growth in membership of so-called
hate groups is traceable to disaffected downsized workers.
In the future, the primary source of growth in rich countries
will lie in Knowledges production, storage, processing and
distribution, whether as a good or a service.
The Knowledge sector accounts for at least half of all
jobs in high-income economies. In the U. S. the number of
managerial, professional and technical jobs has actually grown
more rapidly than those in other sectors.
It also has a suitably, exhortatory ring17: knowledge is
what America, Western Europe and Japan most need to invest
in, if they are to keep raising living standards. A more
provocative decision would be to split the world into three
categories. The paralysed economies, chiefly poor ones in
Africa and elsewhere that are going backwards or at best
standing still. The progressing economies, those in Asia,
Eastern Europe, Latin America or even a richer world that are
actually moving forwards in a sustainable way. And finally the
paranoid economies, those in America, Western Europe or
Japan that are terrified by competition from the progressives.
At least with these names the implications would be clear.

1414 strung out perturbat, epuizat

1515 polls - sondaje
1616 recipients - beneficiari
17VOCABULARY17 exhortatory ring sunet, tonalitate ncurajant

61

BUILDING YOUR VOCABULARY

I. Answer the following questions:
1) Why arent there enongh resources to meet the needs
of long retiree and unemployed workers?
2) What are the three phenomena that distinguish this
age?
3) What is the argument for downsizing in a global
economy?
4)
What have the polls shown concerning the
downsized workers anger?
5) How does the knowledge sector account for?
6) What is your opinion about the worlds economic
splitting into three categories? Comment on.
II. Find the words in the right-hand column that
match the words closest in meaning in the left-hand
column:
smokestack

retraining

redeployment
capitalintensive
industries
attrition
casual labour

- industries that rely on the supply of

capital (to operate facilities or create
networks) as opposed to those requiring a
numerous labour force
- traditional industries, heavy industries
or the automobile industries in which
western countries can no longer be
dominant
- acquiring new skills to meet the
requirements of the job-market
- the reassignment of the work force to
other areas and/or other functions
- going or being sent abroad many
executives should be prepared to be
expatriated
- decrease in the work force through

62

 expatriation
lifetime
employment

retirement, resignation or death

- workers hired for a short period, and
who have no formal or stable contract
with the employer
- the concept that a worker will work for
the same employer throughout his life.

III. Find the meaning of the following words and

phrases: lean and mean; lifetime employment; to downsize;
emerging country; smokestacks; to shed jobs; to pledge;
sanitation; casual labour; counterfeiting.
COMPREHENSION CHECK
I. Translate into English:
1) Angajarea pe via ntr-o singur ntreprindere nu
intr n discuie n prezent.
2) Contractul include o prevedere referitoare la
transferul de tehnologie.
3) Unele ri, aa zise n curs de dezvoltare au o rat
a mortalitii infantile mai sczut dect SUA.
4) Serviciile reprezint astzi dou treimi din locurile
de munc n economiile industriale.
5) Va trebui s transferm cel puin o unitate de
producie.
6) Noi angajm personalul nostru neinnd seama de
religie, ras sau sex.
7) Concurenii notrii ne-au ajuns din urm i realizeaz
acum produse la fel de avansate i fiabile ca ale noastre.
8) Venitul lor pe cap de locuitor este mai mare dect
acela al Franei.
III. Fill in with the proper solution:
63

1) To make decent wages, we have to work

a) overdue
b) overdraft c) overtime d) overrate
2) Unemployment .. have been extended to
all categories of workers.
a) doles
b) grants
c) pensions d) benefits
3) With automation and the current fall in the demand,
many workers may become ..
a) redundant
b) redolent
c) recumbent
d) relevant.
4) How much would you require to
report for work?
a) delay
b) notice
c) period
d) warning
5) How much does he .. in his job?
a) win
b) become
c) gain
d) make.
6) How long has she been on ..................... ?
a) sea-sick
b) leave sickness
c) sick-leave
d) make
7) He only joined the firm two years ago, and is not
eligible for the job in terms of ..
a) seniority
b) advance
c) retirement
d) profit
8) . of work, the spokesman said, was the
preliminary condition for the reopening of talks.
a) Resuming
b) Resumption
c) Reprisal
d) Assumption.
III. Translate into Romanian:
The only thing services have in common is what they
are not: things you can drop on your toe. And the old division
between goods and services has been blurred by information
technology and corporate reorganization. If a software program
is sold as a computer disk it counts as a manufactured good; if
it is sold on-line, it is a service. Even in manufacturing, around
64

two-third of jobs no longer involve making things, but are in

services areas such as design, finance, advertising or
marketing. Newspapers are officially counted in the
manufacturing sector, yet few journalists see a factory floor.

FOCUS ON GRAMMAR
ADVERBS OF DEGREE

Adverbs of degree show how big or important

something is. They make the meaning weaker (small degree) or
stronger (large degree).

Too is used:
- before adjectives: This sweater is very fashionable but too
- before adverbs: Im sorry, it goes too slowly.
- before nouns: Theres too much work in this company.

Too + for Infinitive: The exercise is too difficult for us

to do it.

Enough is used:
- before nouns: There are not enough desks in the classroom
- after adjectives and adverbs:
They are good enough to win the contest.
I dont Know French well enough.
- after verbs: The manager considers this product hasnt bee
enough.

So is used in exclamations before adjectives:

You are so kind!
65

So ............... (that) is used in expressions of result:

The meeting finished so quickly that I was
home by 4.30.
Such in exclamations before nouns or adjectives:
You have such friendly colleagues!
Such (a) ............(that) is used in expressions of result:
Our neighbours are such noisy people that to
shift quarters.
I. Underline the correct words:
1. There were so few/so little customers that I went
home early.
2. The salary they are suggesting sounds so good/too
good to be true.
3. Theres too much/too many money involved.
4. It was such/so a borning meeting that I nearly fell
asleep.
5. Can you help me? Im not enough tall/tall enough to
reach the top shelf.
6. The meeting was so short/too short to cover all the
points properly.
7. We have so few/so little information that we cant
make a decision.
8. I had so much/so many reports to write that I put the
answering machine on.
9. We had so much/so many new business that we
needed extra staff.
10. I had to say no the cost was so much/too much
for the budget I was given.
II. Complete the second sentence so it has a similar
meaning to the first sentence and contains the word in
brackets:

66

a) I havent got enough time to prepare for the

meeting. (too).
I have got ................................ to prepare for the
meeting.
b) Weve sent out lots of brochures and well need to
print some more. (many)
Weve sent out ............................ well need to print
some more.
c) Ive got such a busy schedule that I cant meet you
until Tuesday (so)
My schedule .............................. that I cant meet
you until next Tuesday.
d) We didnt buy the laptop because the screen was too
small. (enough)
We didnt buy the laptop because ...........................
e) There werent enough copies of the agenda (few)
There ....................................... of the agenda
f) The problem was so difficult that I referred it to my
line manager (such)
It ............................................ that I referred it to my
line manager.
g) Theres not enough space on this spreadsheet for all
the results. (little)
Theres .............................................. on this
spreadsheet for all the results.
h) I sold too few units last month to get a bonus.
(enough)
I ...................................... lost month to get a bonus.
III. Fill in the blanks with the following adverbs of
degree: such; enough; like; too many; so; so that; too much;
too:
1. Id like to buy a pair of shoes ............................. hers.

67

2. This figure doesnt provide ........................... clues to

the absolute importance of advertising in the markets for
consumer goods and services.
3. The manager considers his employees are
trained ............................. to start working this week.
4. She looked ................. frightened ......................I tried
to calm her down several times.
5. He gave an old woman all the money he had on him.
He is ............... kind!
6. This suitcase is heavy ......................... Could you
carry it for me?
7. The things are not clear. You havent provided us
with ............................ information.
8. If you are ................................. busy you can take a
plane in order to save more time.
VOCABULARY PRACTICE
I. Choose the word or phrase which best completes
each sentence:
1. He may be shy now, but hell soon come out of
his .............................. when he meets the right girl.
a) shoe
b) shell
c) shed
e) hole
2. Just look at the way he goes round giving people
orders. Hes getting a bit too big for his .............................., if
you ask me.
a) boots
b) braces
c) trousers
d) brains
3. Im afraid youve caught me on the ..................... I
wasnt expecting you until this afternoon.
a) stove
b) grapevine c) spot
d) hop
4. Nagging Susan because she smokes too much has no
effect on her whatsoever - its like water off ........................
a) a windmill
b) a ducks back
c) a dripping tap
d) an umbrella
68

5. Why dont we have potatoes in their .....................

tonight for a change?
a) sleeves
b) shells
c) jackets
d) coats
6. Have you seen the new boss? Shes the .....................
image of Marilyn Monroe.
a) live
b) true
c) spitting
d) same
7. Hes one of the few ........................ composers we
have in this country.
a) budding
b) blooming
c) growing
d) promised
8. Writing rhymes for birthday cards is really easy. Its
money for old ................
a) rags
b) bread
c) rope
d) rubbish.
II. Explain the figurative use of colours in the
following:
a) green-eyed
b) in a brown study
c) to feel blue
d) once in a blue moon
e) a black outlook
f) a black look

g) the yellow press

h) a white elephant
i) to see red
j) to paint the town red
k) in the pink (of health)
l) to get the green light

III. Give the antonyms of the following words, then

use them in sentences of your own:
to bring down
miserable
sitting
dressed

aloud
white (pale)
light (adj.)
to go above

sleep
IV. Comment on the following proverbs:

69

to die
still (adv.)
awake
to go to

Luck is nothing, wisdom is all

Old friends and old wine and old gold are best.

UNIT 7
ACCOUNTING

The Anglo-Saxon accounting, especially in the U. S., aims

mainly at informing shareholders and investors about the
economic situation of the firm.
The prevailing norms and rules edicted by official
bodies are stringent and the practice of auditors1 quite as formal
and reliable. All accounts and financial statements should be
presented in conformity with Generally Accepted Accounting
Principles (GAAP) which are as follows:

Going concern2
The basic assumption that the concern has no intention or
obligation to liquidate or curtail3 operations.

True and fair view, or air presentation4

The word fair goes beyond the simple notion of
accuracy, since accounts may be accurate while concealing
some facts or failing to disclose some aspects of a firms
economic and financial position.

Prudence

VOCABULARY
11 auditor revizor contabil
22 going concern continuarea exploatrii
33 to curtail a tia, a reduce
44 True and fair view, or air presentation fidelitatea conturilor
sau corectitudinea conturilor, imagine fidel
70

Caution and circumspection, so that there should not be

any extrapolation, or over -, or under estimation of results. In
fact, only profits realized at the date of financial statements
should be included, and losses which have arisen in respect of
the financial year concerned, should be mentioned.

Consistency5
This implies that similar operations should be dealt with
in the same manner from fiscal year to fiscal year.

Matching principle6
Charges and revenues must be correctly matched with
the accounting periods to which they belong.

Accruals basis7
It means taking into account income and expenses when
earned and incurred8 (commitments) regardless of when cash is
actually received or disbursed.

Materiality
An item should be regarded as material if there is
reason to believe that knowledge of it would influence the
decision of an informed investor.
Today, given the multiplication of international
operations, mergers, takeovers and consolidations involving
companies of different nationalities there is a strong movement
towards the homogenization of accounting practices, and the

5VOCABULARY5 consistency principiul consecvenei; principiul

permanenei metodelor

66 matching principle principiul armonizrii costurilor i

veniturilor din aceeai perioad
77 accruals basis principiul de anualitate; contabilitatea bazat
pe angajamente
88 to incur a-i asuma, a strni, a produce, a-i atrage
71

profession is active in promoting this trend through its

international norm - and standard - setting institutes.
The basic financial statements (Reports)
The accountant is called upon to prepare various reports
from the accounting information. There are three basic reports
that the business organizes on a regular basis:

Income statement

Statement of capital or retained earnings statement

for corporations

Balance sheet.
These statements present the accounting information in
formal reports that tell interested groups, such as managers,
creditors, investors, and government agencies how the business
is doing. The balance sheet may be prepared at any moment in
time but it is usually prepared after the income statement and
the statement of capital.

Income statement (U. S.) Profit and loss account (U.

K.)
This is a statement of the companys business activity
and the expenses relative to that business for a given financial
period. It shows the sales figure achieved less (minus) the
expenses incurred in obtaining the sales (costs of production,
administrative expenses, depreciation etc).

Statement of capital or retained earnings statement

for corporations
a) Sole proprietorship9
The proprietorships capital account represents his or
her ownership in the assets of the business. Whatever net
income the business earns also belongs to the owner.
b) Partnership
Although the statement of capital for a partnership is
prepared in the same manner as shown for a sole

VOCABULARY
99 sole proprietorship propietar unic al unei afaceri
72

proprietorship, the accountant must show changes in capital for

each partner.
c) Corporation
Since the ownership of a corporation is in the form of
shares of stock, no statement of capital is prepared. Income
earned by a corporation and dividends paid are reflected in an
account entitled Retained Earnings

BUILDING YOUR VOCABULARY

I. Match up the following words and definitions:

assets

clean audit

debt

liquid
assets

turnover

mark-up
percentage

book
keeper

break-even
point

- accounts certified without reservation by

the auditors
- the point at which the margin from the sales
is sufficient to cover a firms expenses
without either profit or loss
- clerk in charge recording business
transactions and entering them in the
accounts books
- may mean either money you owe to
someone else or money that is owing to you
and you can recover
- it is used in the plural to denote the assets in
a balance sheet, in the singular to denote one
specific item
- it represents all available funds of a
business: bank deposits, cash, marketable
securities, less bank notes payable
- the percentage to be applied to the cost
price of a product or service to determine its
selling price.
- the total business or total sales it has done
in a given time

73

II. In each horizontal group, underline the od word

(which does not belong to the logical series). The first one
has been done for you:
1) partnership dividends
business entity
2) fund
capital
3) liability
losses
4) profit
income
5) entrepreneur
broker
6) set up
wind up

sole proprietor
investment
loan
revenue
shares
found

board
profit
debt
quotation
establish

III. Multiple choice questionnaire:

1) Are .. auditors eligible for re-election?
a) out coming
b) declining
c) issuing
d) outgoing.
2) Nine and eight are seventeen; I put down seven and
one
a) retain
b) report
c) carry
d) withhold.
3) Auditing firms must certify whether the financial
statements they checked provide a ..
a) good image
b) fair image
c) true and fair view
d) nice presentation.
4) Many firms draw up a at the
end of each month with a view to testing the accuracy of their
accounting.
74

a) control balance
b) controlling balance
c) trial balance
d) checking balance.
5) The generally accepted method of valuation of the
. is cost of market.
a) repertory
b) inventory
c) joint-stock
d) warehouse.
6) Common stock is a synonym for
a) ordinary shares
b) government bonds
c) bearer shares
d) inventories on hand.
7) C. P. A. stands for
a) Certified Public Accountant (U. S.)
b) Certified Public Accountant (G. B.)
c) Controller of Programs and Achievements
d) Costs Programming and Accounting.
8) The art of presenting the accounts of a company in
the most favourable light is called .
a) window shopping
b) window dressing
c) book cooking
d) book dressing
COMPREHENSION CHECK
I. Find the meaning of the following words and
phrases: break-even point; bank of issue; accrued dividends;
equity capital; liquid assets; off-balance sheet; value at cost;
retained earnings; intangibles; convertible loan.
II. Translate into English:
75

1) Experii contabili care urmau s se pensioneze au

fost realei.
2) Activele imobilizate includ terenurile, cldirile,
mainile i vehiculele.
3) El are mult experien n contabilitate i n prezent
urmeaz un curs de contabilitatea ntreprinderii.
4) ntrebai-l pe contabilul ef dac a primit transferul
lor de fonduri.
5) Nu avem destule ncasri (veniturile sunt
insuficiente) pentru a acoperi cheltuielile scadente la sfritul
trimestrului.
6) Este o practic uzual aceea de a percepe dobnd
pentru creanele nepltite.
III. Translate into Romanian:
The capital of the company is subscribed by the
shareholders. The conduct of the firm is in the hands of the
Board of Directors elected by the shareholders. The Board of
Directors controls the work of the paid staff. The shareholders
(U. S: stockholders) are in effect-theoretically at least the coowners (part-owners) of a joint-stock company, sharing in its
profits according to the size and type of their holdings.
A private company must have at least two members,
and not more than fifty, whereas a public company must not
have fewer than seven members, with no upper limit; it can
appeal to the general public for the subscription of its shares or
debentures, which may be freely bought and sold on the StockExchange.
FOCUS ON GRAMMAR
RELATIVE PRONOUNS
76

The words who, which, that, whom and whose can

begin a relative clause. They are called relative pronouns.

For people both who and that are used, but who is more
common.
eg: The candidate who they chose for the job has a
finance background.
For things or ideas both which and that are used, but
that is more common, especially in speech.
The products that you ordered were sent today.
They won the contest which made us quite happy.
The relative pronoun whose shows that something
belongs to someone or some thing.
The European Union is an organization whose policies
change quite slowly.
In formal English it is possible to use whom instead of
who where who is the object of the sentence. But in modern
English most speakers only use who.
The candidate who/whom we chose has a finance
background.
We must keep the relative pronoun in non-defining
clauses. We can not leave it out (it makes no difference whether
it is followed by a noun or a verb).
The technician, who my colleagues know well, said the
network was working fine.
The salad, which had avocado in it, was superb.
That is never used in a non-defining relative clause.
I. Complete the sentences with who, whose or that:
1) They promoted the manager ...
sales team was most successful.
2) Do you know Catherine works for?
3) The consultant, ... seems very young, is
speaking to Martin.
4) I cant remember . I invited to the meeting.
77

5) The contract . you showed me before

was different to this one.
6) Your colleague, I met this morning, had
the same opinion.
7) I dont remember .. I spoke to when I
called yesterday.
8) Its difficult to say . this fax was sent by.
9) The manual .. they sent explains
everything.
10) The customer company I visited is
phoning this afternoon.
II. Decide whether the words in italics are defining
or non-defining relative clauses:
1) The train, which leaves at 8 a. m., doesnt stop at
Bath.
2) The train which leaves at 8 a. m., doesnt stop at
Bath.
3) The projector which has a new bulb is over there.
4) The projector, which has a new bulb is over there.
5) The food, which was very nice, was served at the
bar.
6) The man who is in reception has been waiting for ten
minutes.
7) The technician who spoke to Tony was our
neighbour.
8) The technician who spent over on hour here, said
the network was working fine.
III. Combine the following pairs of sentences by
means of relative pronouns: who, what, which, whose, that
making any necessary changes. Some relative pronouns can
be omitted.

78

1) You sent us a letter. Thank you very much for it.

2) A receptionist answered the phone. She said the

finance manager was not available.

3) The office clerk introduced me to the visitors. Most

of them were from abroad.

4) The lecturer announced he would arrive sooner. This

didnt suit me at all.

5) This is Mr. Roberts, His company was among the

most successful businesses last year.

6) Our company has recently launched a range of new

products last month. Many of them are already in great
demand.

7) The firm is sending me to New York. I work for this

firm.

8) She wanted to be shown around the new mall. She

had been told about the mall.

VOCABULARY PRACTICE
I. Choose the word or phrase which best completes
each sentence:
1) The day after
terrible ..............................
noise.
a) hangover
c) feeling

the office party, Jack had a

and couldnt bear the slightest
b) conscience
d) anxiety
79

2) I agree that this is a bit of a shot,

but we are desperate we have to do something to try to save
the company.
a) hot
b) long
c) wild
d) high
3) We looked in every .. and cranny
for the missing ring, but we couldnt find it anywhere.
a) nook
b) gap
c) hole
d) niche
4) I like my new job; the only fly in the
. is the fact that I have to work every other
week-end.
a) fat b) porridge
c) soup
d) ointment
5) Its a shame that so little is done
nowadays to help the homeless in our large cities.
a) sweeping b) crying
c) dying
d) pitying
6) My aunt is a bit of a wet .. shes
always spoiling everyones fun.
a) rag
b) sheep
c) rat
d) blanket
7) He just wanted one .. before settling
down and getting married.
a) final fling
b) last leap
c) happy hop
d) joyful jump
8) He had a soft for his niece and
thoroughly spoilt her.
a) heart
b) way
c) smile
d) spot
9) Everyone bosses me about at work; Im nothing but a

a) lame duck
b) general dogs body
c) blue-eyed boy
d) marked man.
10) There were loud .. from the audience
when the compere announced that the main group were unable
to perform because of illness.
a) outcry
b) wolf whistles
c) catcalls
d) hoots

80

II. Replace the words in italics, using the verb to

look with an appropriate adverbial particle (sometimes
followed by a preposition):
1) When I try to recollect that incident, I cant help
smiling.
2) We must examine the car attentively before buying
it.
3) Mary can hardly wait for the ballet performance.
4) Will you pay a call on me as soon as you come back
from the seaside?
5) Why dont you play tennis instead of just watching?
6) She hardly had time to examine her surroundings
for it was late.
7) I cant stand him, he despises all those about him.
8) She raised her eyes and saw me.
9) Take care, a car is coming.
10) I shall have to search for that word in a dictionary.
III. Translate into English, using to miss wherever
possible:
1) Mi-e dor de voi toi i-abia atept s v vd din nou.
2) A pierdut lecia de englez. Ce pcat!
3) Bietul Peter, a pierdut avionul i-acum trebuie s-i
cumpere alt bilet.
4) N-am auzit nceputul conferinei. A fost interesant?
5) Cum de n-ai pierdut acest spectacol?
6) E o cas cu trei etaje nconjurat de un zid nalt. Nu
se poate s n-o nimereti.
IV. Comment on Alexander Popes statement that a
little learning is a dangerous thing.

81

UNIT 8
TRANSPORTATION
In international trade, transport1 is a complicated business since
both the exporter and importer have to comply with2 a variety
of rules and regulations. Buyers frequently contact agents or
carriers in their own country when goods are to be collected
from a harbour, airport or railway station and sellers make
arrangement with forwarding agents3 or shipowners.
In general, road transport companies tend to specialize in
destinations where their correspondents are well-established. A
company classified as organizing and making its international
transport operations itself must fulfil a number of conditions:
transport must be carried out by its own means of
conveyance4, operated by its personnel;
transport operations must constitute only a
subsidiary activity in relation to the companys
main activity;

VOCABULARY
11 transport transport; mijloc de transport
22 to comply with a se conforma (unei reglementri); a fi
conform (cu specificaiile)
33 forwarding agent agent specializat n importul i exportul
mrfurilor care circul sau nu n tranzit
44 conveyance expediie, livrare, vehicul; mijloc de transport
82

 the purpose of transport must be to bring goods to

the company or to send them from it.
States allocate quotas of haulage5 permits to each other
within the framework of bilateral or multilateral agreements.
The various techniques of road-rail transport consist in
loading semi-trailers on to wagons for the greater part of the
trip, the semi trailers being hauled over the rest of the trip.
There are international norms of gauge, traffic speed, load and
braking6 equipment. Observance of these regulations allows
wagons to cross borders and thus avoids intermediate handling
caused by a transshipment between two wagons.
Air freight transport operations are accomplished
through ground operators which collect and prepare shipments
for transport and through schedules and non-scheduled carriers
which place the carrying capacities of their planes at the
disposal of shippers.
Goods transported by air are carried:
a) in the cargo holds of passenger airliner;
b)
on board combo-planes (passengers cargo planes)
whose upper decks divide into passenger space reserved for
freight;
c)
on freighters, where freight may be loaded on the
main deck as well as in the hold.
Goods are no longer loaded in bulk but palletised 7 on
unit loads devices, which are standardized, transferable from
aircraft to aircraft, and designed to make the best of available
space to facilitate loading and unloading operations.
Shipping in unit load form facilitates through8
movement of goods from a point of departure to a point of final
destination because it allows the successive use of more than
55 haulage tax de transport; transport prin cruie; camionaj
6VOCABULARY6 to brake a frna

77 to palletise a paletiza
88 through - direct
83

one mode of transport without offloading9. This method is

called combined transport, inter-modal or multi-modal
transport. The shipping techniques in the unit load form used in
connection with combined transport, are the following:
palletizing, a pallet is a platform on which goods are placed;
trucks, trailers and semi-trailers, they are also unit load
devices10 (ULD) and allow combined transport;
containerization, a container is a very large robust metal box,
normally sealed and transported unopened until it reaches its
final destination. Containers are carried by train, truck and
ship.
Combined transport uses a through document: the
combined transport (CT) document issued by the combined
transport operator (CTC) whether as provider or arranger of the
transport.
All the evidence shows that demand for air travel will continue
to grow well in the future, fueled11 by rising living standards
and increased leisure time. The next few years will see airports
coming under pressure to respond to these customer
expectations as the trend to private sector ownership
accelerates.
In some instances, what is perceived as better service by
passengers can also be perceived as cost savings by airlines.
The best example is the new software and telecommunications
technology that allows travelers to look up12 schedule and fare
information, and even book their tickets, via their home
computers.
Further efficiency is seen in the alliances among airlines,
whether the sharing of passengers and facilities between
99 offloading - descrcare
10VOCABULARY10 unit load device aparat pentru manipularea
unitilor de ncrctur

1111 to fuel a alimenta

1212 to look up a consulta; a se ameliora
84

airlines or the sharing of electronic reservations systems. In

addition, new alliances allow passengers to combine miles
earned on frequent-flier13 programs.
On the ground, airport authorities are mining a growing source
of revenue: shopping. Indeed, some airport expansion
programs are turning terminals, especially on the air side where
passengers awaiting flights are a captive crowd, into
upscale14 shopping malls.
BUILDING YOUR VOCABULARY
I. Find the words in the right that match the words
closest in meaning in the left:

Consolidation rates

Delivery order

Routing order
Parcels service

Liner agent

Government order rates

Marking

- any bulk package, cardboard box or ca

a marking permitting its identification a
the transport
- it allow firms to profit by quantity dis
freight consolidators
- they are fixed by governments on certai
- a document from the owner or holder
requesting the release of goods held unde
- instructions concerning the route b
consignment is to be sent.
- their service is the consignment of smal
-.the commercial representative of the sh
port or an inland town where the ship
present

II. Find the meaning of the following words and phrases:

routing order; parcels service; inland town; freight; customs

1313 frequent flier program program pentru zboruri regulate

14VOCABULARY14 upscale - nivel nalt, calitate superioar

85

clearance; to dispatch; bulk; shifting of the cargo; ship owner;

haulage of own goods.
III. Multiple choice questions:
1) What shipping technique is used in connection with
combined transport?
a) consolidation
b) class-rates
c) drawback
d) unit load devices.
2) A charter-party indicates:
a) ships name and tonnage b) demurrage
c) laydays
d) all of the above (a, b and c).
3) B/L stands for
a) bill of lading
b) bill of landing
c) bond and loan
d) boat and lorry.
4) Demurrage represents
a) spatch money
b) lay days
d) damage to be paid by the charterer for unloading
beyond the allowed lay-days
c) the port of call
5) The word consignee always refers to
a) the person who sends the goods
b) the person to whom the goods are sent
c) the person in charge of the goods
d) the agent in charge of insuring the goods.
COMPREHENSION CHECK
I. Translate into English:
1) Plata navlului s se efectueze conform contractului
de navlosire.

86

2) V remitem anexat formularul cu instruciunile

noastre de expediere i v rugm s ni-l returnai completat
corespunztor.
3) Camionul a rmas n pan i lzile vor trebui
descrcate.
4) Circulaia a fost blocat de un semitrailer care s-a
rsturnat.
5) Un contract de navloserie constituie un contract ntre
armator i navlositor.
6) Vasul transportator a avut o sprtur i o parte din
ncrctur a trebuit s fie aruncat peste bord.
7) Folosirea containerelor i a traficului combinat
(feroviar-rutier) au provocat o adevrat revoluie n
transporturi.
8) Taxele pentru transportul aerian nu vor scdea.
9) La aeroportul de destinaie remorca este descrcat i
ataat la un camion.
10) Conosamentul este n acelai timp o recipis, un
contract de transport i un titlu de proprietate.
II. Translate into Romanian:
In accepting this bill of lading, the shipper, consignee,
holder of this bill of lading and owner of the goods agree to be
bound by all of its stipulations, exceptions and conditions,
whether written, typed, stamped or printed on the front or back
hereof as if signed by such person, any local customs or
privileges to the contrary notwithstanding and agree that all
agreements or freight engagements for the shipment of the
goods are superseded by this bill of lading.
FOCUS ON GRAMMAR
ADJECTIVES AND ADVERBS
87

An adjective describes a noun:

Last year we had a significant increase in profits.
Last year profits were much better than this year.

An adverb says how, when or where something

happens:
Hes coming tomorrow.
The economy is growing slowly.

Adverbs can come in different positions. How adverbs

usually come after the verb:
eg. We planned everything very carefully.
Frequency adverbs come after be and auxiliaries, but
before other verbs:
eg. She has never arrived late.
Other when adverbs can come before or after the verb:
eg. Last year our profits rose slightly; Our profits rose
slightly last year.

If we have several adverbs together, the usual order is:

HOW WHERE WHEN
eg. Our profits rose slightly in Germany last year.

As well as describing verbs, adverbs can also describe

adjectives and other adverbs:
eg.
Its relatively expensive (adverb+adjective)
He arrived extremely late (adverb+adverb)

Order of adjectives:
When we have more than one adjective we use this

order:

1. Opinion: Wonderful, lovely, difficult

2. Size: large, small, short
3. Other qualities: cheap, clean, fast
4. Age: new, old, second-hand
5. Shape, pattern, co lour: circular, flat, striped, red
6.Origin, nationality: French, American, Scandinavian
7. Material: wooden, metal, steel, plastic
88

8. Type (what kind?): third-generation (phone),

economic (policy), investment (bank).

Words in the final two categories can be nouns used as

adjectives:
a 10-page American legal contract (size, nationality,
type)
a fast new sports car (quality, age, type)
an efficient worldwide distribution network (opinion,
size, type)
a cheap clean energy source (quality, quality, type).
I. Complete the second sentence so it has a similar
meaning to the first sentence:
1. There was a dramatic improvement in our share price
last month.
Last month our share price
2. There was a slight fall in profits in April.
In April profits
3. There has been a significant drop in demand for oil
over the last few months.
Demand for oil over the last few months.
4. Lets have a brief pause for coffee.
Lets . for coffee.
5. There has been a steady improvement in the inflation
figures.
The inflation figures
6. There was a slow recovery in consumer confidence
last year.
Consumer confidence last year.
7. There has been a gradual rise in unemployment.
Unemployment

8. There has been considerable growth in Korean GDP

over recent years.
89

Over recent years Korean G. D. P .

II. Match the qualities to their definitions:

1) individualistic
2) easy-going
3) determined
4) cautious
5) conservative
6) reliable
7) sensitive
8) tactful
9) unemotional

a) a person having no feelings

b) someone who doesnt like change
c) someone who wont be stopped
d) someone who doesnt take risks
e) relaxed and tolerant
f) someone who likes to do things their
own way
g) someone you can count on
h) someone who finds effective ways
of communicating unpleasant news
i) aware of other peoples feeling

III. Put each group of words into the best order:

a) old-fashioned a large machine cutting a large oldfashioned cutting machine.
b) wooden square two cartons
c) new package an amazing software
d) period a transition three month difficult
e) chips computer Taiwanese high-quality
f) a strategy well-planned investment
g) access cheap Internet high-speed
h) a new revolutionary computer handheld
i) a powder washing new wonderful
j) awful plastic cheap souvenirs
IV. Translate into English:
1) La munte sunt muli oameni care locuiesc n case de
lemn.
90

2) mi pare ru, dar nu pot s merg pe un drum att de

plin de praf.
3) Peter face mari progrese n studiul limbii germane.
4) Ferestrele camerei fratelui meu nu sunt mari, dar
camera e nsorit.
5) Nu cumprm merele acestea, s cumprm din
piersicile acelea, par proaspete i suculente.
6) Fetia aceasta cu prul blond i rochie scurt este
drgu.
7) Vnztorul acela cu pielea negricioas e puin cam
nervos.
8) Era un om slab, cu ochii dui n fundul capului i
obrajii supi.
9) Casa aceasta e prea mare ca s fie confortabil.
10) Ia cartea aceasta. E interesant i se citete uor.
VOCABULARY PRACTICE
I. Rewrite the sentences below by substituting the
words in italics with the word in CAPITAL LETTERS plus
one of the verbs in the box:
call; come; do; get; give; go; have; keep; lose; pull; put; take
1) Telephone me if you feel like going out for a meal
one day next week. RING

2) That wasnt what I meant at all! Youve completely

misunderstood me as usual! STICK

3) Theres no need for us to hurry; the play doesnt

start until 7.30. TIME

4) I may not come first in the race, but Ill try as hard
as I can not to come last. BEST
91


5) The fact that the President had been a drug addict
was not revealed until several years after his death. LIGHT

6) My husband is obsessed with football; its the only

thing he ever thinks about. BRAIN

7) If things go wrong, James, whatever you do, dont

panic. HEAD

8) More than 1,000 runners participated in this years

Manchester marathon. PART

9) The way he took everything she did for granted

really annoyed her. BACK

10) The personnel officer promised him that she

wouldnt tell anyone that he had been in prison.
WORD

II. Give the antonyms of the following words, then

use them in sentences of your own:
to buy

simple
the most
tragedy
to go on
softly
likely
to
begin guilty
carefully
to fill
downstairs
rabbity
night
to seem
III. Analyse the structure of pleasant-looking,
deep-seated and bear-killer and provide three
compounds similar to each, using them in sentences of your
own.
IV. Explain and illustrate the proverbs:

92

A good beginning makes a good ending

There is great force hidden in a sweet command.
UNIT 9
EXPORT-IMPORT
A firm may make an export decision in order to improve its
sales, increase its productive and innovative capacity, which
may generate the creation of jobs. An opportunity my lead a
firm to establish a foreign business relationship. The
opportunity may be a business contact supplied by an embassy
or a chamber of commerce, a fair, an exhibition or a show.
Prior to entering into an agreement, the exporting firm
should estimate the risks relating to the transaction and protect
itself against them. Basically, there are four kinds of risks:
a) Manufacturing. The risk involved in the interruption
of the contract during manufacturing due to the buyers
insolvency1 or to a political decision.
b) Economic (Business). The risk of rising costs of raw
material during manufacture that would not be covered by a
clause in the contract for price revision.
c) Credits. The risk of non-payment due to a foreign
customers insolvency or economic or political events that
hinder2 the payment of the delivered goods.
d) Physical. The material risk related to goods damaged in
transit or while located at a site abroad etc.
These risks can be covered by various insurance
policies taken out by the exporter or importer, but they must be
stipulated in the export contract.
Before transacting business abroad, a firm will have to
consider the resultant financial charges which will not fail to

VOCABULARY
11 insolvency insolvabilitate; faliment
22 to hinder a mpiedica; a stnjeni
93

bear on its cash flow. It will define with its bank the means to
meet them.
The credits that a bank can extend in this field can be
divided into three categories depending upon whether:

they occur before the shipment;

they occur after the shipment;

they accompany the sale.

Financing before Shipment:
To finance the cost of exporting goods, a firm can use
pre-financing credit3. This type of credit permits the firm to
start manufacturing the goods intended for export and to cover
any exceptional requirements this activity might involve. Prefinancing credit can be further subdivided into revolving
special, and pre-financing credits at a pegged rate4.
Revolving pre-financing credits are loans that revolve
(are renewable) around a certain set amount, say 1 million
French francs. The firm cannot use more than that amount, but
if it uses half at the outset5, it still has access to the remainder.
Special pre-financing credits apply to a single isolated
transaction concerning a particular contract. To obtain a special
credit, a company must typically submit to the bank various
accounting documents and evidence of a commercial contract
with its foreign buyer.
Pre-financing credits at a a pegged rate are those
credits fixed at a guarantee rate of interest, usually low, that
provide funds for the expense associated with a substantial
contract spread over a lengthy period (lead or delivery time).
Financing after Shipment:

3VOCABULARY 3 pre-financing credit o form de mprumut pentru a

permite firmei s demareze manufacturarea mrfii destinat exportului

44 pegged rate rat fix; rat stabilizat

55 outset - nceput
94

French exporting firms can replenish6 their cash needs

in the short term in a number of ways.
they can obtain from a bank credits granted in francs which are
advances made against foreign notes (debts due to them by a
foreign buyer). The credit is reimbursed by the repatriated
income from the sale.
an export loan in a foreign currency can be substituted for a
loan stated in francs. The credit will be effected upon
presentation of an invoice and other documents.
the firm can sell the notes to a factor. A factor accepts
responsibility for collecting the receivables and advances their
value, less a commission.
The term of a contract may require that an exporter
provide a guarantee or a security in the form of a bond
underwritten by the exporters bank. There are two main types
of bonds: a bid bond7 and a performance bond8. A bid bond is a
commitment made by the bank to indemnify9 or reimburse a
foreign organization when a company backs out a project after
success fully winning a bid. A performance bond binds the
bank to pay a lump sum10 reimbursement to an organization for
a contract that has been poorly carried out.
Financing Accompanying the Sale:
Through financing backed by the Banque de France,
French companies executing firm orders of goods from abroad
can build up an inventory in France of those goods intended for
export. In such cases, the companys bank, supported by the
Banque de France, grants the firm short-term renewable loan
not exceeding one year. However, the Banque de France
requires that certain conditions must be met before an exporter
66 to replenish a aproviziona, a umple; a satisface
7VOCABULARY7 bid bond garanie de participare la licitaie

88 performance bond garanie de bun execuie

99 to indemnify a asigura, a despgubi, a compensa
1010 lump sum sum global
95

can take advantages of his credit. For example, the exporter

must submit details of his firms export activity and balance
sheets and income statement from the last three years.
Additionally, a bank can offer exporters financing to
build up inventories of goods in the foreign currency. Such a
loan denominated in francs or a foreign currency is in effect
only as long as the goods remain the exporters property. These
loans are attractive because they allow the firms a ready supply
of goods so that they can secure better delivery times for their
customers.
BUILDING YOUR VOCABULARY
I. Answer the following questions:
1) Why does a firm make an export decision?
2) What are the risks relating to the transaction you
should estimate when entering into an agreement?
3) What are the three categories of credits a bank can
extend when transacting business abroad?
4) What does financing before shipment consist in?
5) What do you mean by financing after shipment?
6) What does financing accompanying the sale
consist in?
II. Find the words in the right-hand column that
match the words closest in meaning in the left-hand
column:

balance of payments

bribery

- a written document whereby a candidate

a public purchase makes his condition
commits himself to a complying w
specifications.
- they provide a set of international
interpretations of the most commonly use

96

delivery note

invisible items

remittance advice

incoterms

open account

bid(U. S.)

in foreign trade
- the income and expenditure account of
a given period
- accompanies goods sent by a supplier (v
and it is evidence of proper delivery
- the use of payment or favours to obtain
benefit to which the briber has no legal ri
- a document which is sent to show a
between amounts demanded and paid
- tourist expenditure, shipping insura
services
- an account two businessmen have wi
detailing a sequence of transactions wh
balanced at the end of a specific period.

III. Explain the meaning of the following words and

phrases: cash flow; market exploration; bid bond; to make
funds available; receivables; trade contract; to underwrite;
cost and freight; to ship; patentee.
COMPREHENSION CHECK
I. Select the most appropriate answer:
A. To finance long and medium term receivables a firm
can secure a ..
a) supplier creditb) buyer credit
c) sales agreement
d) income statement
B. If your terms are satisfactory, we shall an
order with you.
a) pass
b) supply
c) place
d) pack
C. Please your best terms.
a) cash
b) quote
c) invoice
d) hasten
D. COD stands for
a) cash
b) credit on demand
c) cash on date
d) cash on delivery.
97

E. The contract will be enforced as soon as you have

paid .
a) premises
b) a receipt
c) a deposit
d) an approval.
II. Translate into English:
a) V rugm s efectuai expedierea imediat i s v
asigurai c ea va fi nsoit de o factur comercial.
b) Nu vom fi n msur s satisfacem comanda
dumneavoastr la data convenit.
c) Firma n discuie se bucur de o reputaie excelent
printre furnizorii i clienii ei.
d) V rugm s ne trimitei preurile, condiiile de
vnzare i termenele dumneavoastr de livrare pentru Europa.
e) Am luat msurile necesare pentru a obine includerea
pe lista ofertanilor.
f) Intenionai s participai la licitaia pentru acest
proiect?
g) Ei au impus taxe vamale punitive la automobilele de
lux.
h) Noi utilizm ambalatori speciali pentru export.
III. Translate into Romanian:
When invoicing in a foreign currency seems to be
necessary or preferable, an exporting firm can use two
formulae to protect itself from exchange rate fluctuations to
which it has been exposed:

the first formula, forward transactions, consists of

selling forward to the firms bank, the foreign currency that the
firm will receive from its foreign buyer on the date of payment
stated in the trade contract. The bank agrees to provide the
exporter with an exchange rate that can be set when the trade
contract is entered into, thus allowing the firm to know the
98

accurate exchange value it will receive when final payment is

effected.

the second formula, insurance, is offered by COFACE.

It issues policies designed to indemnify the exporter invoicing
in a foreign currency for losses that unfavourable fluctuations
of the exchange rate might cause.
FOCUS ON GRAMMAR
CONDITIONALS

Type 1
a) possible, probable/real condition referring to something which
may or equally may not happen:
If Clause
Present Tense, Present perfect

Main Clause
Future, Imperative

eg. If it rains, we wont go to buy the newspaper.

b) tentative, possible condition referring to something
which is rather unlikely to happen, but still do so:
If Clause
Should+Infinitive

Main Clause
Imperative

eg. If you should be interested, please, let me know.

Type 2
- improbable condition referring to something to which
the speaker can imagine happening in theory:
If Clause
Past Tense/Past Subjunctive I

Main Clause
Present Conditional

eg. If I were you, I wouldnt change my job.

If she became a reporter, she would work very hard.
99

 Type 3
- impossible condition referring to something in the past
which cannot by definition happen:
If Clause
Past Perfect Tense/Past Subjunctive II

Main Clause
Perfect Conditional

eg. If she had known English, she would have

translated the text..
Note: In negative sentences, if not is replaced by unless:
eg. He will not understand the lesson unless he learns
the new words.
I. Match the two parts of the following statements:
1) If I were a young manager and I received a number
of complaints from my customers about unfriendly service, ..
2) If my suppliers workforce kept going on strike, ...
3) If my employees refused to work overtime,
4) If I inherited a fortune and opened my own business
and a close relative asked me to give him/her a well paid job,

a) I would use alternative suppliers and make sure I had

emergency stocks.
b) I would offer her/him the job only when the business
becomes profitable.
c) I would think of some ways to encourage my staff to
be helpful.
d) I would give them bonuses for extra hours.
II. Underline the correct words:
1) I wouldnt/wont worry if I am/were you.
100

2) If you phoned/had phoned me yesterday, I had

told/would have told you.
3) If you took/would have taken more exercise, you
might feel/had left better.
4) If Tim would have listened/had listened more
carefully, he wouldnt have made/didnt make that mistake.
5) If we would found/found suitable premises, we
would have moved/had moved earlier.
6) If people kept/had kept their offices more tidy, it
might present/presented a better image to our visitors.
7) If I had known/would know about their financial
problems, I wouldnt do/wouldnt have done business with
them.
8) If our side had been/was better prepared, we
succeeded/could have succeeded in the negotiations.
III. Translate into English:
1) Dac nu l-a fi neles, l-a fi rugat s vorbeasc mai
rar.
2) A alege rochia aceasta dac n-ar fi att de strmt.
3) Dac compania noastr ar fi vrut s vnd sau s
cumpere valut, ar fi putut contacta un agent de burs.
4) Dac nu pleci imediat, vei pierde n mod sigur trenul.
5) i-a fi recunosctor dac mi-ai da mai multe
informaii n legtur cu folosirea cardului.
6) Dac nu te trezeti devreme, n-o s poi s ajungi la
serviciu la timp.
7) Dac a fi observat accidentul, a fi notat numerele
mainilor.
8) Cum ai reaciona dac ai afla c firma lui va da
faliment?
9) Cinele meu latr ntodeauna dac aude vreun
zgomot neobinuit.

101

10) Kate ar fi nvat nc dou ore, dac ar fi tiut c

examenul fusese amnat.
11) Dac mine a avea zi liber, a pleca n excursie la
munte.
12) Dac a fi tiut c facei comer cu aceast firm de
atia ani, a fi luat legtura cu voi imediat.
VOCABULARY PRACTICE
I. Choose the word or phrase which best completes
each sentence:
a) Where is everyone? Its as silent as in here!
a. Sunday
b. the grave c. death
d. a tomb
b) Jimmys feeling a bit under the weather today, but I
expect hell be as right as by the weekend.
a. an athlete b. sunshine c. rain d. roses
c) Ill never eat and drink as much as that again! I was
as sick as a . on the way home!
a. dog
b. horse
c. pig
d. poodle.
d) Ask David to give you a hand moving the furniture.
Hes as strong as
a. an elephant b. a mountain c. a gorilla
d. a horse.
e) Youre not getting enough to eat, Karen! Look at
you! You are as thin as a
a. stick insect d. rake
c. finger
d. wire
f) We cant eat this meat-its as tough as ......................!
a. canvas
b. old boots
c. rubber
d. stale bread.
g) You shouldnt have frightened her like that. Poor
thing! She went as white as .....................................!
a. a sheet
b. snow
c. milk
d. whitewash.
h) Nothing ever seems to bother Colin. No matter what
happens, he always seems to remain as cool as ........................
102

a. cold feet
b. ice-cream
c. a cucumber
d. an Eskimo
i) Youll have to shout, Im afraid. My fathers as deaf
as .
a. a leaf
b. a post
c. a politician d. a stone.
j) Its hard to believe Brian and Stephen are brothers,
isnt it? Theyre as different as
a. Mars from Jupiter
b. milk from honey
c. chalk from cheese
d. margarine from butter
II. Find the feminine nouns corresponding to:
1) bull
5) drake
9) horse

2) colt
6) drone
10) pig

3) deer
7) fox
11) rabbit

4) dog
8) gander
12) ram

III. Look up the verbs corresponding to the

following nouns:
dip
mistake
expression

danger
hand
cry

trot
look
assassin

IV. Explain and illustrate the proverbs:

Patient men win the day.
A blustering night, a fair day.

UNIT 10

103

victim
house
word

HOW TO ENCOURAGE CORPORATIONS TO

BEHAVE
In a 1951 address that was typical of the era, Franck Abrams,
chairman of Standard Oil of New Jersey, proclaimed: The job
of management is to maintain an equitable and working
balance among the claims1 of the various directly interested
groups stockholders, employees, customers and the public at
large2.
What has changed? Competition. American business have been
transformed from comfortable and stable rivals into
bloodletting3 gladiators. Airlines, telephone companies,
utilities4, common carriers5 and Wall Street itself have been
deregulated. Global competitors threaten the every survival of
American manufacturers.
In addition, information technologies have radically reduced
the transaction time between suppliers, retailers and customers.
Because of the pressures to increase earnings, investors
face an ever wider array6 of choices of where to put their
money and enjoy ever greater ease in moving their money
around.
Electronic capitalism has replaced the gentlemanly investment
system that had given industrial statesmen the discretion7 to
balance the interests of shareholders against those of
employees and communities. This transformation of the
corporation into the agent of the shareholder alone has been
accompanied by a growing skepticism about the capacity of

VOCABULARY
11 claim afirmaie, pretenie; reclamaie
22 the public at large marele public
33 bloodletting care vars sngele
44 utilities servicii publice
55 common carrier transportator public
66 array arie, varietate
77 discretion libertate, posibilitate
104

government to protect the rest of society. Regardless 8 of how

the current budget negotiations are settled in the future, the
government will have a more modest role in safeguarding 9 the
economic security of Americans.
The purpose of eliminating the budget deficit is to give the
private sector more capital to invest, thus widening
opportunities and raising earnings for all. But there is no
guarantee that corporations will use the extra resources in this
way.
Maximizing shareholders returns may require investing
the extra dollars in production abroad, or in labour saving
equipment intended to reduce wages and cut jobs, or in
mergers, acquisitions and divestitures10 that result in massive
lay-offs. How, then, to get the private sector to take more
responsibility for employees and communities? But here is
another way. The corporate form of business carries special
advantages. Investors are not personally liable for damages or
debts.
A corporation has the same rights of free speech and legal
action as an individual but can live forever. There are
disadvantages as well. Corporations must pay taxes on their
incomes, as do the investors who receive dividends, resulting
in double taxation. If we want corporations to take more
responsibility, we will have to alter this mix of advantages to
provide the proper incentives11.
If we want profitable companies to keep more employees on
their payrolls12 or to place them in new jobs that offer similar
wages and benefits, to upgrade their skills, to share more of the
8VOCABULARY8 regardless fr a ine seama de ....

99 to safeguard a proteja
1010 divestiture cedare/vnzare de active
1111 incentive - stimulent
1212 payroll stat de plat
105

profits with them and to remain in their communities, we have

to give them an economic reason to do so.
Perhaps the benefits of incorporation13 should be reserved for
companies that demonstrate such responsibility.
Alternatively and more realistically in these parched14 political
times perhaps corporate income taxes should be reduced or
eliminated entirely for companies that do so.
In these times of automation and downsizing, large
corporations raise profits by slashing15 workers, not adding
them. General Motors, the corporate worlds largest employer,
once employed more than a million workers and helped bring
hundreds of thousands of blacks into the workforce. Today its
payroll has shrunk to just over 700,000 workers.
BUILDING YOUR VOCABULARY
I. Match each of the words on the left with the
correct explanation on the right:

relocation

merger

takeover

downsizing

insourcing

- improvement of the firms production

capability without extra expenses, or at
lower costs
- moving production facilities to other
areas to benefit from lower labour costs or
tax breaks
- reduction in size, with a view to
increasing efficiency and lowering
operating costs, often implies the shedding
of jobs
- making more efficient by simplifying,
modernizing and making more coherent
- a combination of two or more companies

1313 incorporation - fuziune

1414 parched - arid
1515 to slash a concedia masiv
106

assetstripping
break-up

spin off

streamlining

productivity
gains

that implies agreement between the

managements concerned
- the purchase of one company by another,
for instance through the purchase of shares
- transforming a subsidiary into an
independent company
- selling piecemeal the assets of a
company, for instance after a takeover
- the dismantling of a firm, for instance to
sell unproductive assets
- to produce within the company, for
instance to discontinue subcontracting or
outsourcing and decide to manufacture
parts within the company itself.

II. Make up sentences by using the following words

and phrases: acquisition; asset-stripping; breakthrough;
demerger; downsizing; internal growth; reengineering; to spin
off; subcontracting; to turn around.
III. Fill in with the proper solution:
1. Which of the following factors does not increase the power
of investors in business firms?
a) global competition
b) deregulation
c) electronic capitalism
d) double taxation
e) information technologies.
2. Utilities are:
a) convenience goods
b) useful commuter services
c) staple products
d) privately owned corporations engaged in
public services
e) raw materials.
107

3. A common carrier:
a) has a duty to serve all clients within the
limits of its facilities
b) is an ordinary transport contractor
c) is a cargo ship
d) is a telecommunications operator
e) specializes in the transport of heavy
consumer goods.
4. Lump sum severance payments are:
a) unemployment benefits paid to retired
workers
b) retirement pensions paid by installments
c) redundancy payments settled once and for
all
d) damages paid to workers who have been laid
off illegally
e) used to reward employees who have been
loyal to the firm over long periods.
5. The term divestitures, as used in the text, applies
to:
a) redundancies
b) financial failures
c) the purchase of new assets without the
capacity to pay for them
d) the transfer or disposal of assets
e) mechanization and robotization resulting in
downsizing.
6. The benefits of incorporations refer to:
a) the money corporations make
b) allowances and health benefits paid out by
corporations
c) the principles of limited liability and legal
entity
d) free speech and legal action

108

e) the money corporate bodies save thanks to

government contributions.
COMPREHENSION CHECK
I. Translate into English:
1. Acest acord este un atu formidabil pentru a ncepe
cucerirea pieei asiatice.
2. Creterea productivitii ne-a permis s rmnem
competitivi, dar asta a nsemnat pierderea a 300 de locuri de
munc.
3. Falsificarea brevetelor i contrabanda fac piaa greu
de penetrat pentru articolele de lux.
4. n ultimul trimestru am ptruns pe dou piee strine.
5. El a reuit s redreseze societatea concentrndu-se
att asupra diversificrii, ct i a reducerii costurilor de
producie.
6. Politica noastr de cretere a fost prea ambiioas i
nu am putut s ne onorm toate angajamentele.
7. Piesele sunt asamblate de fora de munc local n
uzinele noastre din strintate.
8. Dup mai muli ani de cretere extern prin preluri,
cumprri i aliane, lansarea acestui nou produs ar trebui s
stimuleze creterea noastr intern.
II. Translate into Romanian:
Large corporations say they are providing large
numbers of jobs, bringing high quality, low-cost goods to
consumers worldwide, and linking people together into a
global village that transcends geographic boundaries. U. S.
government policies overwhelmingly serve the interests of
these large firms, from corporate tax breaks to free trade pacts.
109

A study that we have written for the Institute for Policy

Studies demonstrates, to the contrary, that the concentration of
economic power in a relatively small number of corporations is
cause for concern.
The top 200 firms sales add up to more than a quarter
of the worlds economic activity. Do they provide more than a
quarter of the worlds jobs? Our research indicates that their
combined global employment is only 18.8 million, which is
less than three-quarters of 1 percent of the worlds workforce.
FOCUS ON GRAMMAR
GERUND OR INFINITIVE?

After certain verbs, either the infinitive or the gerund

may be used with a difference in meaning:
MAIN VERB + INFINITIVE
The Iinfinitive refers to an action that
happens after the action of the main
verb.
eg.
1. I remembered to lock the door before
we left.
2. I forgot to take my camera to the
mountains last week-end.
3. I regret to tell you that youve failed
the test.
4. Jane stopped in the street to talk to
Bob.

MAIN VERB + GERU

The Gerund refers to an a
happens before the action o
verb.
eg.
1. Dont worry. I remember d

2. Ill never forget tak

beautiful pictures on our h
month.
3. I regret telling you the bad

4. Well, but she stopped talk

a month ago.

I. Complete these sentences putting the verb in

brackets into either the infinitive or gerund:
110

1. He pretended .. (not/understand)
the new regulations.
2. Have you finished (study) those statistics?
3. Bank managers tend .. (be) cautious when
granting loans to small firms.
4. Would you mind .. (cover) me while
Im on leave?
5. Susan avoided . (upset) her boss about
that issue although she was right.
6. Have you ever considered .. (emigrate)?
7. The negotiating team threatened ..
(break off) talks until December.
8. They denied (get) involved in such illegal
transactions.
9. We refused (accept) the terms of the
contract because they were incomplete.
10. Mike risked .. (borrow) a large sum of
money with the aim of setting up his own business.
II. Rephrase these sentences replacing the words in
italics by a gerund or an infinitive construction:
a) I definitely recall that I put the envelope here on my
desk.
b) I dont deny that I havent understood that part of
the lesson.
c) Fred admitted that he had read very little about the
subject
d) The doctor advised Paty that she should take the
pills on an empty stomach.
e) Did you forget that you had given Mr. Brad that
message?
f) She couldnt bear that be should think of her in that
way.
111

g) He preferred that I should say nothing about it at

present.
h) Can you doubt that he will win the competition?
i) I suggested that he should call a specialist
immediately.
j) The law requires that all the cars should be
regularly tested for safety and efficiency.
III. Complete the following sentences with either an
infinitive or a gerund:
1. My parents have been married for twenty years;
however, my father continues ..
2. For their honeymoon, my father proposed
3. While my parents were driving to the mountains on
their honeymoon, they stopped
4. They had a nice drive, but when they arrived at the
chalet, they discovered that they had forgotten
5. Have your parents ever regretted ..?
6. Have they ever tried .?
VOCABULARY PRACTICE
I. Choose the correct word or phrase which best
completes each sentence:
1) Although we had been told that the film was very
exciting, both my wife and I found it to be as dull as
a) ditchwater
b) a don
c) a dungeon
d) a museum
2) Honestly, Pam, ever since Ive given up smoking I
fell as fit as
a) a fighter
b) a fiddle
c) a frog
d) an athlete
112

3) Our dog looks very ferocious, but dont worry, Liz,

Fidos as gentle as . - especially with children.
a) a pony
b) snowflakes
c) a lamb
d) washing-up liquid
4)
I hope the children didnt play you up,
Dorren?
No, not at all, Mrs. Grant. Theyve been as
good as ..
a) religion
b) gold
c) God
d) brass
5)
The suitcase isnt too heavy, is it?
No, its as light as .
a) dust
b) lightning
c) a feather
d) a fish
6) I wish the new secretary would cheer up! Shes been
as miserable as .. for the past week!
a) a monk
b) death
c) a banker
d) sin
7) Of course he loves you! Its as plain as
a) a pancake
b) the knob on your door
c) the nose on your face
d) a bell
8) Kathy was as pleased as . when she
heard she had passed the exam.
a) punch
b) a poppy
c) a sunflower
d) pound notes
9) I hope the computer course starts this term. Were all
as keen as to get going.
a) coffee
b) mustard
c) a gigolo
d) cornflakes
II. Group the words in column A with the words in
column B, as in a box of pills:
A
1. ball
2. bottle
3. bunch
4. cake

B
1. beer
2. cards
3. coal
4. clothes

113

5. pack
6. pair
7. pint
8. reel
9. sack
10. suit

5. cotton
6. keys
7. medicine
8. shoes
9. soap
10. string

IV. Fill in the blanks with the appropriate word

from the list of compounds based on house:
1) Im very thirsty. Lets enter this
and have a glass of beer.
2) The cucumbers we eat in winter are grown in
3) The little boy cast some grains into the
4) The .of that harbour is very big.
5) The goods in the . are to be sent to
Glasgow tomorrow.
6) The customers of this . have never
complained of bad attendance.
7) That has saved many lives.
III. Comment upon the following proverbs:
It is good to strike the serpents head with your
enemys hand
Nothing but is good for something.

UNIT 11

114

MAJOR TRADING BLOCS TODAY

The development of new transport and telecommunications
techniques has sped up the circulation of goods and services,
and markets are getting more and more international, or global.
The market economy is spreading from its traditional
strongholds1 to the whole world and new areas are being
opened up to the law of supply and demand, and to
international competition.
The World Trade organization is in charge of supervising the
whole process, and of ensuring that the world trade is
organized so as to meet standards of free and fair competition.
Companies want to go global, and governments are
vocal2 in their advocacy of free trade. But behind the
consensus, economic blocs are battling for supremacy and
national interests are very much at play, trying to keep out
foreign goods by relying on a wide array3 of non-tariff barriers,
from domestic content to sanitary regulations. The
consequences are manifold4, in terms of the reduced economic
freedom and scope of action allowed to nation-states and of the
government protection of domestic industries, local firms and
labour forces.
Privatization the elimination or limitation of
government-run or public sectors, to hand them over to private
initiative and entrepreneurship5 and deregulation imposing
competition in hitherto6 protected sectors have spread from
the U. S. to the European Union, and created a new

VOCABULARY
11 strongholds - bastioane
22 to be vocal a menine zgomotos, a vorbi tare
33 array desfurare, etalare
44 manifold - multiplu
55 entrepreneurship spirit ntreprinztor
6VOCABULARY6 hitherto pn aici, pn la aceast dat, pn acum

115

environment for business operations, supposedly regulated by

market forces more than by government intervention.
One should first distinguish between Free Trade Areas
and Customs Unions: partners in an FTA agree to scrap 7 tariffs
on trade among themselves whereas in a customs union,
members decide on a common tariff policy towards nonmember countries.

Customs unions
The European Union formerly known as the European
(Economic) Community is the worlds largest trading bloc
today. The ratification of the Single European Act in 1987 and
its final implementation8 on December 31, 1992 have firmly
established the Community as a single domestic market; the
Maastricht Treaty, ratified by by the 12 member-states in 1993,
primarily aims at enhancing9 the financial and political
integration of the Union.
Free-trade areas

The European Free-Trade Association (EFTA) was

set up in 1960 in response to the initial Common market
between the countries that had signed the Treaty of Rome. It
now includes the Western European countries that do not
belong to the European Union, such as Norway, Switzerland or
Iceland; those having joined the European Economic Area fall
within the jurisdiction of the European Single Act.

The North American Free-Trade Agreement (NAFTA)

is a free-trade area including the United States, Canada and
Mexico which was officially set up in 1993. The ultimate
objective seems to be the creation of a Pan-American free-trade
area that would stretch from Alaska to Tierra del Fuego.

77 to scrap a da la rebut, a arunca la gunoi

88 implementation punere n aplicare
99 to enhance a spori, a mri, a mbunti
116

Two FTAs are currently in the making in the Pacific

zone:
the ten members of the Association of South-East Asian
Nations (ASEAN), created in 1967, have agreed to set an FTA
by 2003.
- The Asian-Pacific Economic Co-operation (APEC) forum has
pledged10 itself to internal free trade by 2020, with the richer
countries reaching this objective by 2010. Today it comprises
18 countries with Pacific shorelines 11, among which the United
States, Canada, Australia, New Zeeland, China, Japan,
Malaysia, Indonesia.
APEC is not a formal FTA yet but its plans look
ambitious. It remains to be seen whether the organization will
overcome the difficulties inherent to its cultural and economic
make up12 (diversity of culture and economic development
levels), its geographical specificity (based on three continents)
and the leadership battles looming13 ahead, with such giants as
China, Japan and the United States.
The Central European Free-Trade Area (CEFTA) was
formally set up in 1995 between the Czech Republic, Hungary,
Poland, Slovakia and Slovenia. This FTA, whose primary goal
is to increase trade among its member-states, may also be
viewed as a step towards a future E. U. enlargement.
FTAs are also in the making in the Carribean and in the Middle
East.
-

1010 to pledge a se angaja

11VOCABULARY11 shorelines coast, litoral, zon de coast

1212 make up alctuire, structur, construcie

1313 to loom a amenina, a se contura, a se ntrevedea
117

BUILDING YOUR VOCABULARY

I. Answer the following questions:
1) Why do economic blocs appear today?
2) Is there any difference between a Free-Trade Area
and a Customs Union?
3) What is the worlds major trading bloc today?
4) Which are the two well-known free-trade areas?
5) How many FTAs are there in the Pacific zone?
6) What do you know about the Central European FreeTrade Area?
II. Match up the following words and definitions:

fair competition

free trade

market economy

private sector

dumping

cartel

managed trade

barter

- selling goods cheaply, below cost price

market. It is considered an unfair practice.
- it is the deal where goods are exchang
and not for money.
- competition on equal terms, in which n
benefits from visible or concealed a
subsidies
- a group of companies supplying
commodities or services and that agree to
regulate supplies so as to restrict competit
- international trade, based on the
exchange of goods, and excluding
protectionist barriers meant to keep out fo
- relies largely upon market forces to alloc
to goods, and to determine the price and q
goods to be produced
- business firms and private entrepre
business for their own profit, and whose
owned or controlled by the state
- a form of economy submitted to heavy
intervention, in order to direct economic a

118

III. Find the meaning of the following words and

phrases, then use them in sentences of your own: bloc;
customs union; deregulation; free-trade area; restraint of
trade; counter trade; to go global; hard currency; soft
currency; tariff walls.
COMPREHENSION CHECK
I. Select the most appropriate answer:
a) Bondholders have a claim . before
other creditors on such assets as may be sold.
1) lien
2) link
3) proceed
4) slip.
b) The decline in useful value of a fixed asset due to
wear and tear from use and passage of time is called
1) dereliction
2) disparagement
3) redemption
4) depreciation.
c) Mining and oil companies set up ...
reserves to compensate for the natural wealth the company no
longer owns.
1) depression
2) repletion
3) depletion
4) completion.
d) The part of authorized capital already contributed by
the companys shareholders constitutes the
1) paid up capital
2) called up capital
3) issued capital
4) registered capital
e) A stock is said to have high leverage if the company
that issued it has a large proportion of
outstanding in relation to the amount of common stock.
1) ordinary shares
2) bonds and preferred stock
3) fixed assets
4) blue chips.
f) Total profit represents a 10% .. capital.
1) return on
2) benefit on
3) income on
4) output of.
119

g) The point at which volume of sales or production

enables an enterprise to cover related costs expenses without
profit and without losses is the
1) breakdown point
2) dead-end
3) breakaway point
4) break-even point.
II. Translate into English:
1) O moned puternic i un sistem extins de protecie
social sunt obligaii n competiia mondial.
2) Firma noastr a gsit posibiliti de desfacere n
ntreaga lume pentru maini-unelte i alte utilaje.
3) Singurul criteriu relevant pentru conductorii de
societi comerciale este rentabilitatea investiiei.
4) Suveranitatea economic a statelor este contestat
prin globalizarea comerului.
5) n comerul mondial, ca i n comerul interior,
avantajul fa de concuren este dat de relaiile cu clienii i
ncredere.
6) Au nteprinderile alte obligaii dect cea de baz (de
a genera profit)?
7) Accesul la piaa de capital a devenit mai uor,
permind societilor mici s acapareze segmente de pia de
la societile mari.
8) Lupta pentru supravieuire d prioritate interesului
acionarilor fa de cel al angajailor sau al comunitilor.
III. Translate into Romanian:
How does bank automation benefit a business? With
timely information, business owners can make better decisions
about how to manage their funds. Online banking lets them
more cash among accounts, paying bills while still earning as
much interest as possible on their cash reserves. With P. C.
banking, cash-management decisions are transmitted from
120

business to bank by computer. These days, companies can use

their computers to control automatic payroll plans as well, and
they no longer have to phone or fax salary-payment
instructions to their banks. And the computers can handle taxpayment authorizations and international-currency maneuvers.
FOCUS ON GRAMMAR
DETERMINERS
A determiner is a word used in front of a noun to show
which thing you mean, or to show the quantity of something.
Determiners
include:
a/the,
my/your,
this/that,
all/most/some/any, no/none, much/many/a little/a few,
each/every, both/either/neither.

no, none
We can use no with a singular noun, plural noun or
uncountable noun.
eg.
No employee has more than 25 days paid
holiday.
No new ideas were put forward at the meeting.
There was no useful information in the report.
To emphasize the idea of none we can use none at all
or not one or not a:
eg.
A: How many people came?
B: None at all!/Not one!/Not a single person!

each, every
- we use each when we think of the members of a group
as individuals, one by one. It is more usual with smaller groups
and can mean only two.
eg.
Make sure that each parcel has a label.
- we can use each of :
eg.
Each of the parcels needs a label.
- each can be used after the subject, or at the end of a
sentence:

121

The parcels each need a label.

or
The parcels need a label each.

both, either, neither

- we use both, either and neither to refer to two
things..
both means the one and the other:
Both emails/Both the emails/Both of the emails/Both
of them are important.
The emails are both important. Ive read them both.
either means the one or the other. Neither means not the
one or the other:
Monday or Tuesday? Yes, either day/either of the days
is fine.
Monday or Tuesday? Im sorry, but neither day/neither
of the days is convenient.
I. Underline the correct words:
1) Every option has been/Every options have been
explored.
2) The flight and hotel are booked. All/Everything is
organized.
3) I cant see no/any solution to the problem, Im
afraid.
4) All of/Every of the files are corrupted by the virus.
5) I cant come at the week-end. Im busy both
days/every day.
6) Each our customers/Our customers each have a
separate file on the database.
7) Sorry, but I cant hear either/neither of you properly.
8) Some of/Some restaurants have service included in
the price.
9) Not one/Not no question has been answered.
10) The key account managers each/every have their
own list of clients.
122

11) There were none/no messages on the answering

machine.
12) O K, I think that covers all/everything on that point.
Shall we move on?
II. Complete the sentences with a word or phrase
from the list below: all, any, no, not one, none, each, every,
both, either, neither.
1) I cant go There are only two flights, and there are
.. seats left on .. of them.
2) I cant go. There are only two flights, and
of them has any seats left.
3) We sent letters to sixty customers, but replied!
4) .. I want is a bit of peace and
quiet to finish writing this report.
5) Ive phoned store in the Yellow
pages and they are out of stock.
6) We have three models, and .. one
has its own special features.
7) I was nervous at the start of my talk, but after that I
enjoyed .. minute.
8) I got three letters, but there were .. for
you, Im afraid.
9) I got three letters, but there werent .. for
you, Im afraid.
10) The Trade Fair is important. We need ..
Sue and Mike on the stand.
11) Both roads lead to the city center. You can take
.. one
12) Youve been six of the best trainees that weve ever
had on this course. The best of luck to .. of
you in your future careers.
III. Translate into English:
123

a) Nici unul dintre noi nu avea idee a cui e vina.

b) Trebuie s cumprai magnetofon sau putei nchiria
unul? Nu trebuie s nchiriem l avem pe-al nostru.
c) Totul e gata, putem porni.
d) Oricine i poate da un asemenea sfat.
e) Le era team tuturor c vor ntrzia.
f) Tot ce mi-a spus m-a impresionat profund.
g) Ia-le pe amndou, sunt la fel de frumoase i utile.
h) Bibliografia pe care mi-a recomandat-o m-a ajutat
mult s-mi fac singur lucrarea, fr sprijinul nimnui.
i) Mi-a cerut nite plicuri, dar n-am avut nici unul.
j) Oricine va vizita aceste locuri le va recunoate
frumuseea.
k) Regretm cu toii timpul fericit al studeniei noastre.
VOCABULARY PRACTICE
I. Supply the appropriate word chosen from those
given in brackets:
a) The books will be sent (direct, directly)
to him, not to the bookshop where he has ordered them.
b) Please, dont go away, the manager will see you
.. (direct, directly).
c) Modern planes fly very (high, highly).
d) Ive just seen a (high, highly)
amusing play.
e) I think very (high, highly) of him.
f) The time is drawing .. (near, nearly)
for taking a decision.
g) I (near, nearly) missed my train.
h) Those little girls dance .. (pretty, prettily).
i) The situation is (pretty, prettily) good.
124

j) She thought some of her teachers were not treating

her .. (fair, fairly).
k) He always plays .. (fair, fairly).
l) She was . (fair, fairly) beside herself
with indignation.
m) This is a .. (fair, fairly) interesting novel.
n) They turned (sharp, sharply) right.
o) She always speaks . (sharp, sharply)
to her childred.
II. Choose the alternative which best matches the
meaning of the underlined phrasal verb:
1) As it was getting late, I decided to press on.
a) find a place to sleep
b) phone for help
c) finish the ironing
d) keep going.
2) He had no business there, so I told him to clear off.
a) do the dishes
b) leave at once
c) return everything to its proper place
d) find something useful to do
3) Im sorry to butt in, but I couldnt help overhearing
what you said.
a) interrupt you
b) contradict you
c) speak so rudely to you
d) stop you
4) I didnt want to do it, but the other boys egged me
on.
a) threw eggs at me
b) called me names
c) encouraged me
d) lifted me off the
ground.
5) Have you managed to track down that book I asked
you about?
a) sell
b) find
c) read through
d) get back
6) I know Sarah said she would lend you some money,
but I wouldnt bank on it if I were you.
125

a) borrow from her b) spend the money all at once

c) save the money
d) depend on her to do it
7) Whenever be makes a mistake, my boss always trots
out the same old excuses.
a) shyly offers
b) hotly denies
c) carefully avoids
d) glibly produces
8) We tarted up the house in order to be able to sell it
quickly.
a) offered at a low price
b) advertised widely
c) decorated cheaply and quickly
d) refurnished expensively
9) He looked really washed out after his operation.
a) very clean
b) soaking wet
c) very tired and pale
d) as if he had nowhere to
live.
10) The policeman shot off before anyone could stop
him.
a) left in a hurry
b) let everyone know the truth
about what was happening
c) fired his gun
d) closed all the doors.
III. Comment on the following proverbs:
The wolf may lose his teeth, but never his nature.
What is bred in the bone will not out of the flesh.
UNIT 12
INDUSTRIAL RELATIONS AND HUMAN
RESOURCES

VOCABULARY
126

The beginnings of industrial relations date back to the

great shift1 from rural activities to factory work that took place
in the nineteenth century in most western countries.
The first phase was a long struggle for the legal
recognition of unions, which were formed as a means of
strengthening the bargaining power of workers.
Workers organized into associations, sometimes
called brotherhoods2, along the lives of their specific skills
(craft unions), or according to the branch of industry they were
working in (industrial unions). Very soon, attempts were made
to regroup workers from all trades into general unions and
national federations.
During a second phase, lasting from World War I to the
seventies, the power of unions asserted itself in traditional
industries like iron and steel and mining, and continued to
spread to other industries and business activities. Membership
grew, and the majority of employers become accustomed to
negotiating with unions and their representatives, and to
accepting union activities on their premises.
Since the 1980s, the unions movement has lost much of
its power and influence. The causes are:
Technical advances and robotization that changed the
operations and atmosphere of the workplace;
The abandonment by developed countries of the so-called
smokestack3 industries;
The growth of the service industries;
The softening of the political fight between the right and the
left, the rejection of the notion of class struggle and the
loosening of ties between unions and political parties;

11 shift 1) (aici) deplasare, schimbare 2) echip, schimb, tur

22 brotherhood frie, sindicat muncitoresc
33 smokestack industries industrii bazate pe fabrici cu couri
de aburi
127

The realities of world competition, and the weakness in this

field of unions which are organized nationally, unemployment
as jobless people are in general non-unionized and the
belief that entitlements4 and welfare programmes are too
much of a burden for todays economy.
Trade unions in Great Britain
A trade union is an association of wage-earners with the object
of improving the conditions of their working lives. Trade
unionism first appeared in Britain in reaction to the industrial
revolution which brought about a strict division between the
labour force and the ownership of production tools. The wellorganized trade unions emerged in the XIX th century and were
marked by violent demonstrations and severe repressions.
The end of the XIX th century saw the emergence in
Britain of a new type of unionism, called the New Unionism,
which was made up of general unions that accepted workers
regardless of their occupations. So as to counterbalance the
power of employers, unionists finally decided in 1900 to set up
their own political organization, the Labour Representation
Committee, which was to become the Labour Party in 1906.
The 1920s were marked by the 1926 general strike 5 that
turned out to be a failure and weakened unionism up until the
post-war era. Faced with the political assertiveness6 of trade
unions, employers set up their own representative body, the
Confederation of British Industry in 1965. The 70s were
characterized by numerous strikes and government attempts at
weakening union power. The Prime minister managed to
reduce the influence of unions by enacting anti-labour laws

4VOCABULARY4 entitlements beneficii sociale

55 strike 1) (aici) grev 2) lovitur, succes

66 assertiveness afirmare, declarare, aseriune
128

and by remaining adamant7 to workers strikes. As a result,

union membership fell by 10% over the 80s.
Trade unionism has evidently been weakened not only by the
Tory policies of deunionization, but also by its lack of
cohesiveness (there remain today tree different types of union
craft unions, industrial unions and general unions) and its
conflicting relationship with the Labour Party. Although
membership has remained relatively high (around 35% of
workers) many British labour organizations find it impossible
to adjust8 to the fast-changing social environment in Great
Britain.
BUILDING YOUR VOCABULARY
I. Match the following terms with their definitions:
collective
agreement
craft union

fringe
benefits

general union

wildcat strike

welfare

a) ordinary members of a union as distinct

from the officials and the leadership
b) well-being as applied to the population
or citizens of a country
c) a strike that is called without notice and
without-at least initially-the formal support
of union officials
d) the agreement between management and
unions that results from collective
bargaining
e) union of workers sharing the same skills;
in order to join, workers have to have the
same technical ability and type of job
f) advantages and benefits granted by the
employer on the top of the basic wage or
salary (paid holiday, insurance, pension,
scheme etc)

7VOCABULARY7 adamant - inflexibil

88 to adjust a adapta, a ajusta

129

closed shop

attrition

non-union
shop
rank and file

g) a union that can be joined by any

worker, independently of the geographical
area and industry on trade she/he works in
h) firm or factory requiring the workers
join a union before they can be hired
i) normal reduction of a work force owing
to death and retirement
j) a firm or factory which hires workers
without requiring that they join a union

II. Raise and rise. These two verbs are often confused.
Study this example of how they are used:
a)

The company raised its prices. (transitive-with

object)
b) Prices rose. (intransitive-no object)
Decide which verb to use in the following sentences:
1) The owner of the flat . the rent last
week. (a majorat chiria)
2) The sun . every morning.
3) Profits last year by 25 percent.
4) The employees have many claims
lately. (a ridica pretenii)
5) Those who agree are asked to a hand.
6) He .. the question of salary.
7) All participants .. to the occasion. (a se
ridica la nlimea situaiei)
8) They moved from the town to the country and now
they are cattle. (a crete vite).
III. Find the meaning of the following words and
phrases: blue collar; to call a strike; collective agreement;
dismissal; dues; to have a day off; holiday with pay; payroll
tax; industrial injury; pay-claim; rank and file; retiree.
130

COMPREHENSION CHECK
I. Translate into English:
a) Nu neleg de ce vrea s demisioneze, credeam c
avea un salariu bun.
b) A vrea s candidez pentru postul de ef de echip
(maistru), care n prezent este vacant n ntreprinderea
dumneavoastr.
c) Este a doua oar cnd ei refuz s acorde o mrire de
salariu.
d) Pensionarea obligatorie la 55 de ani ar crea
numeroase probleme economice i sociale.
e) Dup o perioad de pregtire, acest inginer va fi
responsabil cu negocierea contractelor.
f) Canditatul ales va avea o bun formaie universitar
n statistic economic.
g) n ciuda recomandrilor reprezentanilor sindicatului,
muncitorii refuz reluarea lucrului.
h) Contractul colectiv prevede c majorrile salariale
vor fi acordate n funcie de merit/realizri i nu n funcie de
vrst.
II. Select the most appropriate answer:
1) We wish to make it very clear that Mr. Thompson is
no longer in the companys .
a) payload
b) paying
c) cash payment
d) payroll
2) The number of .. injuries remains
much too high.
a) industrial b) labour
c)working
d) job
3) The car industry has been plagued with . strikes.
a) savage
b)stop
c) trigger
wildcat
131

4) There was no job security and you could find

yourself .. overnight.
a) out of job
b) out of a job
c) off his job
d) labourless
5) A closed shop is
a) a factory on strike
b) a firm that only hires
union members
c) a sweatshop
d) an illegal workshop
III. Translate into Romanian:
The economic slump and the Reagan era deeply
weakened American trade unionism: the Reagan administration
systematically adopted anti-labour policies, which led to a
collapse of membership in the 80s; furthermore a Supreme
Court decision in 1984 made it possible for companies to
unilaterally cancel union contracts if they could prove that it
was in their interest to do so. As a result, more and more
companies have become union free or non-union shops in
the U. S. Today, union leaders in America are caught between
two different strategies: they may choose to fully cooperate
with management or try to revive labour struggle.
FOCUS ON GRAMMAR
EXPRESSING FUTURE
There are different ways of talking about future
events in English and they have different meanings:

Predicting future events:

It will probably be difficult to evaluate the losses.
By next year our costs will have risen by 40%.

Making a promise:
Ill give you the book as soon as I finish reading it.

Describing a plan or an arrangement:

132

She is leaving at noon tomorrow.

Mr. Smith will be driving into London next week.
Referring to timetables or schedules:
We start for Sinaia tomorrow. The train leaves at
8.30.
Saying what you intend to do:
Im going to finish my work next week.
Referring to something that is going to happen very
soon:
He is just about to phone at the office.
I. Underline the correct words:

a) We will have moved/will be moving to our new

premises in July.
b) Tomorrow Ill interview/Ill be interviewing
candidates all morning.
c) What time does your train/will your train leave?
d) We cant send the goods until weve received/we will
receive a firm order.
e) We shall be repaying/shall have repaid the bank
loan by November.
f) I was going to write/was writing to them, but I
forgot.
g) When the contract is/will be ready, Ill let you know.
h) Will we/Shall we break for coffee now?
i) Sorry, I cant speak now, Ill just have/Im just about
to have a meeting.
j) Dont forget to turn off the lights before you are
leaving/ you leave.
II. Fill in the gaps with the correct form of the verbs
in the brackets to express future:

133

1) Mr. Roberts is not at the office right now. I

(let) him know you called when he comes back.
2) They .. (start) the meeting. If you
do not come in 10 minutes youll probably miss it.
3) Please, dont call after 12.30, Mrs. Johnson
.. (have) an interview then.
4) My plane for London (leave) at 7.30.
5) Prices .. (rise) if the exchange rate changes.
6) They . (take on) temporary new staff
for this project.
7) What you (do) this time next Monday?
8) I .. probably (finish) my paper tomorrow.
III. Translate the following into English, paying
attention to the verb forms used to express future time:
1) Dac va ntreba cineva de tine i voi spune s
telefoneze mai trziu,
2) Cnd vei sosi, ne vei gsi lucrnd la raport.
3) Vom atepta aici pn se ntoarce Paul.
4) Cerul e ntunecat. Ploaia va fi n toi cnd vom fi gata
de plecare.
5) Te vom atepta n faa teatrului cnd se va termina
piesa.
6) Anul viitor pe vremea aceasta ei vor locui ntr-un
apartament nou.
7) Profesorul v va explica din nou lecia dac i vei
cere acest lucru.
8) Ei au de gnd s-i cumpere o main nou anul
viitor.
9) Cnd Robert va absolvi facultatea, va fi studiat aici
cinci ani.
10) Peste o lun se vor mplini zece ani de cnd lucrez
n aceast fabric.

134

VOCABULARY PRACTICE
I. Choose the phrasal verb which best completes the
sentence:
1) Whole villages have been . by the floods.
a) wiped out
b) mopped up
c) called off
d) run down.
2) Stuart is a strange man: I cannot him
a) make out b) string along c) root out
d) spur on.
3) It is a serious operation for a woman as old as my
grandmother. Shes very frail. I hope she .
a) gets away
b)comes round
c) pulls through
d) stands up
4) Its none of your business: please dont
. things that dont concern you.
a) bump into
b) meddle with
c) tot up
d) come across
5) Im feeling rather sweaty. Do you mind if I
just ......................... a bit before we go out to dinner?
a) tart myself up
b) touch myself up
c) liven up
d) freshen up
6) Im sorry, but I dont think you and I have met
before. Are you sure youre not .................. me .......................
with somebody else?
a) pairing off
b) putting together
c) fitting in
d) mixing up
7) The factory is now fully automated, which means
that we have been able to ........................ production.
a) run on
b) step up
c) turn over
d) double up
8) I watched a very old professor giving a lecture the
other day. He ...................... for ages before getting to the point.
a) rambled on
b) stumbled forward
c) went ahead
d) circled round.
135

II. Translate the following sentences into English,

using to trouble or to disturb wherever possible:
1) N-am trecut pe la ea sptmna trecut ca s n-o
deranjez. tiu c de un timp este foarte ocupat.
2) Prinii lui Tom erau ngrijorai de faptul c nu
primiser veti de la el de mai bine de trei sptmni.
3) Beethoven a fost chinuit de surzenie n cea de-a doua
jumtate a vieii lui.
4) Nu vroia s-i incomodeze prietenul, aa nct stinse
lumina i ncearc s doarm.
5) Zgomotul copiilor care se jucau pe strad l deranja
ngrozitor.
III. Give the homonyms of the following words and
explain their meaning:
road stern
made yard

hour
you

tail
rose

air
prey

IV. Comment upon the following proverbs:

Everybody complains of lack of money, nobody
complains of lack of wit
He who has an art has everywhere a part.

136

I. UNITI MONETARE FOLOSITE N MAREA

BRITANIE
DENUMIRE
tenner
tanner
fiver
guinea

Stil
TRADUCERE
ECHIVALENT
SIMBOL
fam
10 lire
= 10 pounds
10
.
10 lire
= 10 pounds
10
pop
5 lire
= 5 pounds
5
.
guinee
= 21 shillings 21 s. sau 1 s.
fam
sau one pound
.
and one shilling
(inexistent ca moned, folosit n limbajul comercial sau pentru onorariile medicilor,
avocailor i profesorilor)
pound
lir (sterlin)
= 20 shillings 1 sau 20 s. sau 100 p
(sterling)
sau 100 pence
1 sau 20 s. sau 100 p
lir (sterlin)
= 20 shillings 1 sau 20 s.
sovereign
sau 100 pence
10 s. sau 50 s.
sl.
lir (sterlin)
= 20 shillings
5 s. sau 25 p
quid (plural
jumtate de lir
= 10 shillings
2 s. 6 d. sau 2/6
la fel)
coroan
= 5 shillings
2 s. 6 d. sau 2/6
half-pound
jumtate
de = two shillings 2 s. sau 2/crown
coroan
and six (pence)
1s. sau 1/1 s. sau 1/half-crown
jumtate
de = two shillings 6 d. sau -/6
coroan
and six (pence)
2 d. sau -/2
two and six ist.
florin
= 2 shillings
1 d. sau -/1
(pence)
nv.
iling
= 12 pence
d.
sl.
iling
= 12 pence
d.
florin
ase peni
= 6 pence
shilling
doi peni
= 2 pence
bob (plural
peni
= 4 farthings
la fel)
jumtate de peni = 2 farthings
sixpence
sfert de peni
twopence
penny
halfpenny
farthing

Not: n ultimele decenii s-a trecut la sistemul zecimal: 1

(o lir)= 100 pence / p (= 100 penny), dar ilingii etc. apar n
literatur (inclusiv cea de azi despre epoci anterioare).

137

II. UNITI MONETARE FOLOSITE N SUA,

AUSTRALIA I CANADA
DENUMIRE
Double eagle

STIL
nv.

TRADUCERE
20 de dolari

ECHIVALENT
= 20 dollars

SIMBOL
$ 20

Eagle

nv.

10 dolari

= 10 dollars

$ 10

dolar

= 100 cents

$1

dolar

= 100 cents

$1

= 50 cents

50 c.

= 25 cents

25 c.

= 10 cents

10 c.

= 5 cents

5 c.

= 1 cent

1 c.

Dollar
Buck
Half-dollar

Fam.

jumtate
dolar

de

Quarter
sfert de dolar
Dime
zece ceni
Nickel
cinci ceni
cent
cent

138

IRREGULAR VERBS
Infinitive
Past Tense
Past Participle
1. to abide
abode
abode
= a locui, a sta
2. to arise
arose
arisen
= a se ridica, sui, aparea, a se ivi
3. to awake
awoke/awaked awoke = a (se) trezi
4. to be
was were
been
= a fi, a exista
5. to bear (to be born) bore/borne
born
= a purta, aduce,produce a da
natere
6. to beat
beat
beaten = a bate a lovi a nvinge
7. to become
became
become = a deveni a ajunge
8. to begin
began
begun = a ncepe
9. to bend
bent
bent
=a (se) ndoi
10. to bereave
bereft/bereaved bereft /bereaved = a lipsi de, a priva de
11. to beseech
besought
besought = a cere cu insisten a implora
12. to bid
bid/bade
bid/bidden = a ordona, porunci,oferi
13. to bind (to be bound) bound
bound
= a uni, lega, a fi constrns
14. to bite
bit
bit /bitten = a muca, nepa
15. to bleed
bled
bled
=a sngera, a lsa s curg, a
stoarce
16. to blow
blew
blown
= a sufla a arde
17. to break
broke
broken = a sparge, a rupe,a sfarma
18. to breed
bred
bred = a crete, a educa, a nate, a regenera
19. to bring
brought
brought = a aduce, a produce
20. to build
built
built
= a cldi, a construi, a furi
21. to burn
burnt /burned burnt /burned =a arde, a praji, a calcina, a
ataca
22. to burst
burst
burst
= a rupe a izbucni, a exploda.
23. to buy
bought
bought = a cumpra
24. to cast
cast
cast
= a arunca, a turna, a (se) mula
25. to catch
caught
caught = a prinde, a capta, a (se) bloca.
26. to chide
chid (chidden) chid
= a mustra, a certa a se plnge
27. to choose
chose
chosen = a alege, a selecta
28. to cleave
cleft /clove
cleft /cloven = a (se)despica, a scinda, a
separa.
29. to cling
clung
clung = a se ine strns de
30. to come
came
come
= a veni, a ajunge
31. to cost
cost
cost
= a costa
32. to creep
crept
crept
= a (se) tr, a aluneca.
33. to cut
cut
cut
= a tia, a seciona.
34. to dare
dared /durst
dared /durst = a ndrzni
35. to deal (with)
dealt
dealt = a se ocupa (cu) trata, a repartiza
36. to dig
dug
dug
= a spa, a excava.
37. to do
did
done = a face
38. to draw
drew
drawn = a desena, a schia, a atrage.

139

39. to dream
dreamt/dreamed dreamt/dreamed =a visa, a-i nchipui.
40. to drink
drank
drunk = a bea.
41. to drive
drove
driven = a pune n micare, a conduce.
42. to dwell
dwelt
dwelt = a locui, a rmne, a insista.
43. to eat
ate
eaten = a mnca, a coroda.
44. to fall
fell
fallen = a cdea, a da la rebut
45. to feed
fed
fed
= a alimenta, a hrni, a aprovizion
46. to feel
felt
felt
= a (se) simi, a testa
47. to fight
fought
fought = a combate, a (se) lupta
48. to find
found
found = a gsi, a descoperi, a explora / constata
49. to flee
fled
fled = a fugi, a disprea, a se scurge, a evita
50. to fling
flung
flung = a lansa, a arunca, a izbucni, a se npusti
51. to fly
flew
flown = a zbura, a lansa, a se nla, a se intinde
52. to forbid
forbade forbidden
= a interzice, a opri
53. to forget
forgot
forgotten
= a uita
54. to forgive
forgave
forgiven
= a ierta
55. to forsake
forsook forsaken
= a prsi
56. to freeze
froze
frozen =a nghea, a congela a refrigera, a
solidifica
57. to get
got
got
= a obine, a primi, a deveni, a
ajunge
58. to give
gave
given = a da, a acorda, a transmite, a aviza, a
preda.
59. to go
went
gone = a merge, a funciona, a circula, a rula
60; to grow
grew
grown = a se mri / dezvolta. a crete, a deveni
61. to hang
hung
hung = a suspenda, a atrna, a aeza receptorul.
62. to have (to have to) had
had = a avea, a poseda, a obine, a trebui s.
63. to hear
heard
heard = a auzi, a asculta, a audia
64. to hew
hewed
hewed/hewn
= a ciopli, a tia,
65. to hide
hid
hidden
= a ascunde
66. to hit
hit
hit
= a lovi, a ciocni, a izbi, a da o lovitur
67. to hold
held
held = a ine,a reine, a bloca, a opri, a fixa.
68. to hurt
hurt
hurt = a rni, lovi, a avaria, a strica
69. to keep
kept
kept = a ine, a reine, a menine a ntreine
70. to kneel
knelt
knelt = a ngenunchia
71. to knit
knit
knit = a nnoda, a mpleti, a tricota, a mbina
72. to know
knew
known = a cunoate, a ti
73. to lay
laid
laid = a pune, a aeza, a ntinde
74. to lead
led
led
= a conduce, a avansa a comanda,
75. to lean
leant/leaned leant/leaned = a nclina, a apleca, a se sprijini
76. to leap
leapt/leaped leapt/leaped = a sri, a slta
77. to leave
left
left = a prsi, a pleca, a ceda, a lsa n urm
78. to lend
lent
lent
= a mprumuta, a acorda. a mprti
79. to let
let
let
= a lsa, a permite
80. to lie
lay
lain = a consta din, a zace, a se afla, a fi
81. to lose
lost
lost
= a pierde
82. to make
made
made = a face, a fabrica, a produce, a conecta

140

83. to mean
84. to meet
85. to mow
86. to pay
87. to put
88. to read
89. to rend
90. to rid
91. to ride
92. to ring
93. to rise
94. to run
95. to saw
96. to say
97. to see
98. to seek
99. to sell
100. to send
101. to set
102. to sew
103. to shake
104. to shear
105. to shed
106. to shine
107. to shoe
108. to shoot
109. to show
110. to shrink
111. to shut
112. to sing
113. to sink
114. to sleep
115. to slide
116. to sling
117. to smell
118. to smite
119. to sow
120. to speak
121. to speed
122. to spell
123. to spend
ntrebuina
124. to spill
125. to spin
126. to spit
127. to split
128. to spread

meant
meant = a vrea s spun, a se referi la, a inteniona.
met
met = a ntlni, a intersecta, a satisface (cerine)
mowed
mown
= a cosi
paid
paid
= a plti, a achita, a cinsti a onora
put
put
= a pune, a aeza
read
read
= a citi, a face lectur
rent
rent
= a sparge, a rupe
rid
rid
= a elibera, a debarasa
rode
ridden = a clri, a cltori
rang
rung
= a suna, a telefona, a ncercui
rose
risen
= a (se) ridica/urca, a izvor, a rsri
ran
run
= a alerga, a curge, a rula, a conduce.
sawed
sawn
= a tia cu ferstrul
said
said
= a spune, a afirma
saw
seen
= a vedea, a nelege, a consulta.
sought sought = a cuta, a cerceta
sold
sold
= a vinde
sent
sent
= a trimite, a emite
set
set
= a pune, a stabili, a monta, a regia, a ajusta.
sewed
sewn = a coase
shook
shaken = a bate, a scutura, a vibra
sheared shorn = a tia, a mrgini, a tivi, a forfeca, a tunde
shed
shed = a arunca, a difuza, vrsa,
shone
shone = a sclipi, a strluci
shod
shod = a potcovi, a ncala
shot
shot
= a mpuca, a filma
showed shown = a arata, a manifesta
shrank shrunk = a se contracta, a se strnge, a intra la ap.
shut
shut
= a include
sang
sung = a cnta, a fluiera, a uiera
sank
sunk = a (se) scufunda
slept
slept = a dormi
slid
slid
= a aluneca, a glisa
slung
slung = a arunca, a lansa
smelt
smelt = a mirosi
smote
smitten = a izbi
sowed sown = a planta, a semna
spoke spoken = a vorbi, a enuna
sped
sped
= a accelera, a grbi
spelt
spelt
= a scrie liter cu liter, a silabisi
spent
spent = a cheltui, a consuma, a petrece, a
spilt
spun
spat
split
spread

spilt
= a vrsa, a mprtia, a risipi, a turna,
spun
= a centrifuga, a toarce, a roti, a presa
spat
= a rosti, a scuipa
split
= a scinda, a despica, a frnge, a despri.
spread = a ntinde, desfura, rspndi, acoperi.

141

129. to spring
130. to stand
131. to steal
132. to stick
133. to sting
134. to stink
135. to strew
136. to stride
137. to strike
138. to string
139. to strive
140. to swear
141. to sweep
142. to swell
143. to swim
144. to swing
145. to take
146. to teach
147. to tear
148. to tell
149. to think
150. to thrive
151. to throw
152. to thrust
153. to tread
154. to understand
155. to wake
156. to wear
157. to weave
158. to weep
159. to win
160. to wind
161. to wring
162. to write
163. to broadcast
164. to grind
165. to learn
166. to light
167. to shed
168. to shave
169. to sit
170. to spoil

sprang
sprung = a sri, a izvor, a se arcui, a se trage
stood
stood = a rezista, a sta (vertical), a suporta, a se ridica
stole
stolen
= a fura, a se strecura
stuck
stuck
= a (se) lipi, a se fixa
stung
stung
= a nepa, a rni
stank
stunk
= a mirosi urt
strewed strewn = a aterne, a presra, a mprtia
strode
stridden = a pi cu pai mari
struck
struck-stricken = a lovi, a izbi, a atinge.
strung
strung = a nira, a lega, a ntinde, a ncorda
strove
striven = a se strdui, a se lupta
swore
sworn
= a jura
swept
swept
= a baleia, a explora, a strbate, a mtura
swelled swollen = a (se) umfla, a crete a (se) ridica
swam
swum
= a nota, a pluti
swung swung = a oscila/balansa, a pendula/legna
took
taken
= a lua, a capta, a necesita
taught
taught
= a preda, a nvaa pe cineva
tore
torn
= a rupe, a smulge
told
told
= a comunica, a relata, a spune
thought thought = a reflecta, a gndi, a crede, a socoti.
throve
thriven
= a prospera, a-i merge bine, a reui
threw
thrown = a arunca, a deplasa a devia,
thrust
thrust
= a mpinge, a nfige a apsa
trod
trodden = a clca, a rula, a bate (un drum)
understood understood = a nelege, a deduce
waked/woke waked/woken = a (se) trezi, a strni
wore
worn
= a uza (prin frecare), a toci, a purta
wove
woven
= a ese, a urzi
wept
wept
= a curge/picura, a plnge.
won
won
= a tia, a extrage, a recupera, a ctiga
wound wound
= a nvrti, a rsuci, a bobina
wrung wrung
= a stoarce, a rsuci, a smulge
wrote
written = a scrie, a nregistra
broadcast broadcast = a transmite, a difuza
ground ground = a mcina
learnt
learnt
= a nva (ceva)
lit
lit
=a aprinde,a lumina
shed
shed
= a vrsa
shaved shaven = a se barbieri, a tunde
sat
sat
= a sta jos, a se aseza
spoilt
spoilt
= a strica, a alinta

142

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