If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances

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If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances and all operating statement accounts at year-end?

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Accounting for Governmental and Nonprofit Entities

ISBN: 978-1259917059

18th edition

Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely

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Question Posted: Nov 10, 2018 12:40 PM

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If a capital project is incomplete at the end of a fiscal year, what happens to Encumbrances

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To facilitate preparation of financial statements at the end of the fiscal ...View the full answer

Accounting for Governmental and Nonprofit Entities

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