I. Заполните пропуски, используя следующие слова: possessions, adjustment, proprietor, failure, headings, enterprise,

The different types of business organization may be classified under three headings. This is the simplest and the oldest form of business ownership. A single person is solely responsible for the success or failure of the business. His liability is unlimited. Ownership and control are vested in one person. This type of organization is extremely flexible and capable of quick adjustment to changes in market conditions. The owner is personally liable for the debts incurred by his firm. All his possessions are at risk. A single person provides the capital, takes the decisions, and assumes the risks.