Discuss why a government might record encumbrances in its records and what role these amounts would have

Question:

Discuss why a government might record encumbrances in its records and what role these amounts would have in the
(a) Management of a government and
(b) General purpose issued to legislators and the public.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...