FOOTING Definition

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FOOTING, in accounting, is the sum of a column of figures.

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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.

RAND is a currency of South Africa.

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