Define each of the following basic accounting terms

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Definition Scavenger Hunt

Define each of the following basic accounting terms in your own words by finding sources on the Internet.

Providethe URL that supports the definition you have created for each item.

· GAAP

· Basic accounting formula

· Transaction, t-account

· General ledger

· Debit

· Credit

· Account balance

· Trial balance

· Journal

· Assets

· Liabilities

· Net assets

· Accounts receivable

· Accounts payable

· Revenues

Postyour definitions as a Microsoft®Word attachment to the Assignment Link

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