Question;week 2 discussions What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is the impact of encumbrance accounting on a governmental budget? Explain.2What are the basic principles of fund accounting? When do governmental entities recognize revenue? Why is timing important in recognizing revenue?3Summarize one of the electronic readings. How does the article relate to this week?s readings? What new information did the article contain? If the article is dated, have there been any further developments in the area?
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