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What are the key differences between a governmental unit and a commercial company? Discuss the following terms and how they are used during the budget
- What are the key differences between a governmental unit and a commercial company?
- 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.
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