Final answer:
The authority to incur financial obligations that will result in immediate or future outlays is known as obligation authority.The correct answer is option D.
Step-by-step explanation:
The correct answer to the question is d) Obligation authority.
Obligation authority is the authority given to an individual or organization to incur financial obligations that will result in immediate or future outlays. This authority allows for the commitment of funds for specific purposes, such as making purchases or entering into contracts.
For example, in the government sector, obligation authority is granted to agencies and departments to make expenditures in accordance with budgets and spending authorizations.The correct answer is option D.