Explanation

Retained earnings refer to the portion of the earnings left with the company after the distribution of dividend to its shareholders. Retention of earnings is from the profits of the business for a financial year. 

Explanation

Apportionment of cost refers to the distribution of various overhead items, in proportion, to the department on a logical basis. 

Explanation

Nominal capital is the aggregate par value of those shares that have been issued by a corporation.

Explanation

Revenue is income, especially when of an organization and of a substantial nature.

Explanation

A type of contract in which contract holder has right to sell an asset at specific period for predetermining price is classified as option.

Options are financial instruments that are derivatives or based on underlying securities such as stocks

Explanation

In terms of Rule 13 of the Public Procurement Rules 2004 the minimum response time shall not be less than fifteen (15) days for national competitive bidding and thirty (30) days for international competitive bedding.

Explanation

It is also called the Original cost method, Fixed Installment method or Equal Installment method.

Explanation

In terms of Rule 13 of the Public Procurement Rules 2004 the minimum response time shall not be less than fifteen (15) days for national competitive bidding and thirty (30) days for international competitive bedding.

Explanation

The function of a depreciation provision is to make a company's balance sheet more accurately reflect the current value of the investments it has made in fixed assets over time.

Explanation

Financial accounting is the process by which an organization's revenue, receivables and expenses are collected, measured, recorded and finally reported into a financial statement.