HSM 260 EDU Education Terms/hsm260edu.com HSM 260 EDU Education Terms/hsm260edu.com | Page 2

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.
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
Post your definitions as a Microsoft® Word attachment.
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HSM 260 Week 1 DQ 1 and DQ 2

FOR MORE CLASSES VISIT
www.hsm260edu.com
How does the statement of functional expenses differ from the
statement of activities? What is the difference between a revenue
center and an expense center as it relates to a human service
organization? Why do you need to know this information as an
employee in a human service organization?