Match each of the numbered descriptions with the term or phrase it best reflects. Indicate your answer by writing the letter for the term or phrase in the blank provided.

A. Audit C. Ethics E. SEC G. Net income B. GAAP D. Tax accounting F. Public accountants H. IASB 1 Principles that determine whether an action is right or wrong.

2 Accounting professionals who provide services to many clients.

3 An accounting area that includes planning future transactions to minimize taxes paid.

4 An examination of an organization’s accounting system and records that adds credibility to financial statements.

5 Amount a business earns after paying all expenses and costs associated with its sales and revenues.