Encumbrance Accounts Need Not Be Closed at Year-End If the Government

question 13

True/False

Encumbrance accounts need not be closed at year-end if the government is required or intends to honor the encumbrances outstanding at year-end.

---

Definitions:

Descriptive Label

is a description or label that provides information about the characteristics or contents of something without implying a judgement.

Signs and Symptoms

Indicators that something is not normal within the body, with signs being observable to others and symptoms being experienced by the individual.

Irrational Fear

Describes an excessive or unreasonable sense of fear or dread regarding something that poses little to no actual danger.

Phobia

An extreme or irrational fear of or aversion to something.