Which of the following terms refers to an actual cost rather than an estimate?
A) Budget.
B) Encumbrance.
C) Expenditure.
D) Appropriation.

Question

Quizplus · Accepted Answer

An expenditure refers to an actual cost that has been incurred, as opposed to a budget (which is a planned cost), an encumbrance (which is a commitment to spend money), or an appropriation (which is a legal authorization to spend money).

Which of the Following Terms Refers to an Actual Cost