1. Accounting: (1) Distribution of net income to two or more accounts. (2) Authorization or funding restricting expenditure to designated purpose(s) within a specified timeframe.
2. Government: Authorization by an act of parliament to permit government agencies to incur obligations, and to pay for them from the treasury. Appropriation does not mean actual setting aside of cash, but represents the prescribed limit on spendings within a specified period.
3. Law: (1) Allocation of payments to debts. In case of multiple loans, the payments can be applied against any debt, usually at the option of the debtor. In case of an open trade credit account, the law in general presumes that the first item on the credit side is intended to be applied against the first item on the debit side. (2) Assumption by a person of the rights of an owner with the intention of permanently depriving the owner of the subject property; theft.
Use appropriation in a sentence