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CheckPoint: Definition Scavenger Hunt Define each of the following basic accounting terms in your own words by finding sources on the Internet.

3. CheckPoint: Definition Scavenger Hunt

· Define each of the following basic accounting terms in your own words by finding sources on the Internet.
· Provide the URL that supports the definition you have created for each item.

o GAAP
o Basic accounting formula
o Transaction, t-account
o General ledger
o Debit
o Credit
o Account balance
o Trial balance
o Journal
o Assets
o Liabilities
o Net assets
o Accounts receivable
o Accounts payable
o Revenues

· Post your definitions as a Microsoft® Word attachment.

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