Terminology Matching Continued Auditor's Report Net Income Net Loss Sarbanes-Oxley Act Partnership Sole-Proprietorship Corporation Stakeholder's Equity Current Assets A business organized as a separ legal entity owned by stockholders A business owned by 1 person The amount by which revenues exceed expenses The amount by which expenses exceed revenues Assets the organization expects to convert to cash or use up within 1 year of its operating cycle Prepared by an outside independent person giving their opinion about the fairness of the organization's financial position and the organizations conformance with GAAP A business owned by 2 or more people Regulations passed by Congress to reduce unethical corporate behavior The owner's claim to assets