Question: Explain as best that you can the differences between the concepts of appropriations, expenditures, expenses, costs, and disbursements (or outlays). As mentioned in class, these

Explain as best that you can the differences between the concepts of "appropriations," "expenditures," "expenses," "costs," and "disbursements (or outlays). As mentioned in class, these are "terms of art" in finance and accounting; take care to clearly distinguish them from one another.

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