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Differences between governmental unit and commercial company

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Reference no: EM132630243

Question -

Q1. What are the key differences between a governmental unit and a commercial company?

Q2. Discuss the following terms and how they are used during the budget process of a governmental unit:

Appropriations

Encumbrances

Expenditures

Budgetary fund balances

Give examples for each of the above terms.

Reference no: EM132630243

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