Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 64

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
B. GAAP
C. Ethics
D. Tax accounting
E. SEC
F. Public accountants
G. Net income
H. IASB
________ 1. An examination of an organization's accounting system and records that adds credibility to financial statements.
________ 2. Amount a business earns 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.