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1、剑桥商务英语高级模拟42READINGPARTONE・Lookatthestatementsbelowandthefiveextractsaboutcompanies.・Whichextract(A,B,C，DorE.doeseachstatement(1-8)referto?•Foreachstatement(1-8),markoneletter(A,B，C，DorE.onyourAnswerSheet.・Youwillneedtousesomeoftheselettersmorethanonce・ASeparateLegalEnt
2、ityAuniquefeatureofacompanyisthat,nomatterhowmanyindividualshaveboughtsharesinit,itistreatedinitsdealingswiththeoutsideworldasifitwasapersoninitsownright.Itissaidtobeaseparatelegalentity.Justasthelawcancreatethisseparatelegalperson,thelawalsocaneliminateit,butitsexisten
3、cecanonlybeterminatedbyusingtheproperlegalprocedures.Thus,theidentityoftheshareholdersinalargeconcernmaybechangingconstantlyassharesareboughtandsoldbydifferentpeople•Ontheotherhand,asmallprivatecompanymayhavethesameshareholdersfromthedateitisincorporated(thedayitlegally
4、cameintobeing),untilthedatewhenliquidationiscompleted(thecessationofthecompany,oftenknownasnwindingup11orbeingnwoundupH)•Aprimeexampleofitsidentityasaseparatelegalentityisthatitmaysueitsownshareholders,orinturnbesuedbythem.BLimitedLiabilityMostcompaniesarenlimiteducompa
5、nies.Thismeansthatanyshareholderwhohaspaidfortheshare(s)whichhehasboughtcannotbeforcedtopaymoremoneyintothecompanyif,forexample,itismakinglossesorhasgoneintoliquidation.Thus,themaximumamountofmoneyanyshareholdercanlosebyinvestinginacompanyistheamounthehasinvested.Unlike
6、insoletradersorpartnershipsashareholderinalimitedcompanycannotbeforcedtosellhisownpropertytopaythedebtsofthebusiness.Ifashareholderhasnotpaidinfullfortheshareshehasagreedtobuy,hecanbeforcedtopaythebalanceowingontheshares•Oncehehaspaidthatamounthecannotbeforcedtopayanyfu
7、rtheramount.Thus,hisliabilityislimited.CCompanyDirectorsTheday-to-daymanagementofacompanyisnotcarriedoutbytheshareholders•Shareholderscannormallyattend,andvoteat,generalmeetingsoftheircompany.Atoneofthesemeetingstheshareholderswillvotefordirectors,thepeopletowhomtherunn
8、ingofthecompanyisentrusted.AteachAnnualGeneralMeeting(AGM)thedirectorshavetoreporttotheshareholders•Theywritea
