Exercise 1-4 Learning the language of business LO C1, C2, C3 Match each of the descriptions with the term or phrase it best reflects. Description 1. An examination of an organization's accounting system and its records that adds credibility to financial statements. 2. Amount a business eams in excess of all expenses and costs associated with its sales and revenues. 3. An accounting area that includes planning future transactions to minimize taxes paid. 4. Accounting professionals who provide services to many clients. 5. Principles that determine whether an action is right or wrong. Term or Phrase Audit