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FAR > Encumbrance Accounting > Flashcards

Encumbrance Accounting Flashcards

1
Q

What are encumbrances?

A

-Estimated dollar value of purchase orders outstanding

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2
Q

What two additional budgetary accounts are created to record encumbrances?

A

-Encumbrances and Assigned (or Committed) for Encumbrances which is used as an offset account

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FAR (93 decks)

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