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.

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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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