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ACCT 306 - Chapter 3 Flashcards | StudBud
ACCT 306 - Chapter 3
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The difference between an expenditure and an encumbrance is
A
An expenditure is the actual amount of an authorized liability
B
An encumbrance is an expended expenditure.
C
An encumbrance is the actual amount of an authorized liability
D
Expenditures are estimates and encumbrances are not.
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