During which step of the budgetary cycle is power given to incur financial obligations?

Name: During which step of the budgetary cycle is power given to incur financial obligations?
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Question

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Appropriations are the step in the budgetary cycle where power is given to incur financial obligations. This step involves the allocation of funds for specific purposes by a governing body, such as a legislature, allowing agencies or departments to spend money up to the appropriated amount.

During Which Step of the Budgetary Cycle Is Power Given