Question

The legal authorization for the administrators of the governmental unit to incur liabilities during the budget period for purposes specified in the appropriations statute or ordinance and not to exceed the amount specified for each purpose is an:

Answer 1

Answer:

The correct answer is Appropriations Budget.

Explanation:

Budget appropriations are maximum authorizations of expenditure that public entities approve to be committed during the respective fiscal period. After December 31 of each year, these authorizations expire and, consequently, may not be committed, added, transferred or counter-credited.