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QUESTION
explain the nature and purpose of the reserve for encumbrances account (a) during the year and (b) at year end.
explain the nature and purpose of the reserve for encumbrances account (a) during the year and (b) at year end.
The following is the nature and purpose of the reserve for encumbrances account(a) During the year: The encumbrance account during the year is maintained as a reserve in orderto provide for...