ENCUMBRANCE Definition

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ENCUMBRANCE is a) a right or interest in land owned by someone other than the owner of the land itself; examples include easements, leases, mortgages, and restrictive covenants; or, b) in accounting, an encumbrance is an anticipated expenditure, or funds restricted for anticipated expenditures, such as for outstanding purchase orders.

Learn new Accounting Terms

PPBS is PPBS is Program Planning Budgeting System.

ASSESSED VALUE is the estimated value of property used for tax purposes.

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