Question: What are the main differences between the lapsing and nonlapsing methods of accounting for encumbrances outstanding at the end of the fiscal year? What are

What are the main differences between the lapsing and nonlapsing methods of accounting for encumbrances outstanding at the end of the fiscal year? What are the differences in accounting between the lapsing and nonlapsing methods when accounting for the actual expenditure in the subsequent year?

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