Explanation

Reserve Capital is defined as a part of subscribed uncalled capital, which will not be called up until and unless the company goes into liquidation.

Explanation

Accounting Is The Process Of Identifying, Recording And Communicating Information.

Explanation

 Right shares are those shares which are issued after the original issue of shares but having an inherent right of the existing shareholders to subscribe to these shares in proportion to their holding.

Explanation

Last step in developing operating budget is implementing decision.

An operating budget is a forecast of the revenues and expenses expected for one or more future periods.

Explanation

Unearned income is income from investments and other sources unrelated to employment. Examples of unearned income include interest from savings accounts, bond interest, alimony, and dividends from stock.

Explanation

Bid Opening: Stage in project advertisement process where sealed bids, received by prospective bidders (Contractors) are opening and examined by the County. 

Explanation

Expense is the cost incurred in or required for something.

Explanation

Explanation

The purpose of adjusting entries is to convert cash transactions into the accrual accounting method.

Explanation

Compensatory errors cannot be revealed on the preparation of trial balance.

Compensating Errors are error on the debit side and is compensated by an error of equal amount on the credit side.