ACCOUNTING ENVIRONMENT. Match each of the terms listed below with the most closely related definition or example in the adjacent list. Your answer should pair each of the numbers from 1 through 11 with the appropriate letter.

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TERM 1. Managerial accounting 2. Audit 3. CPA 4. Financial state- ments 5. Sole proprietor- ship 6. GAAP 7. Capital markets 8. FASB 9. Accounting 10. SEC 11. Corporation DEFINITION OR EXAMPLE a) The rules and conventions that guide the prepara- tion of financial statements for persons outside the organization b) The subfield of accounting concerned with accounting systems and financial reporting within an organiza- tion c) The institutions that organize the investment of financial resources in business activity d) The accounting reports that summarize the economic performance and status of an organization and are issued at least annually to persons outside the orga- nization e) The agency of the federal government empowered to prescribe accounting rules for capital markets f) The main source of official pronouncements on gen- erally accepted accounting principles