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All of the following statements are true concerning encumbrances, except: ...

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Accounting

All of the following statements are true concerning encumbrances, except:

a.

Purchase commitments are recorded as encumbrances, even though they may not yet represent liabilities.
b.

For Fund-Based Financial Statements an entry is required to record the encumbrance.
c.

For Fund-Based Financial Statements an entry is required when the item is received.
d.

For Government-Wide Financial Statements an entry is required to record the encumbrance.

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