What is a compensating error? Select the single best answer: A. occurs in the salaries and wages account B. cancels the effect of another error C. does not affect the balance of the account D. occurs at the end of a fiscal period and which adjusts the balance of an account Which of the following refers to an estimate of an apportionment based on specific qualifications? Select the single best answer: A. current loan B. endowment C. encumbrance D. entitlement What does the term capital expenditures refer to? Select the single best answer: A. purchase of fixed assets B. salary and personnel expense C. operating expenses D. expenses incurred in connection with the sale of capital stock