DEFALCATION Definition

DELFALCATION is to misuse or embezzle funds.

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PERIOD COST is an expense that is not inventoriable; it is charged against sales revenues in the period in which the revenue is earned (e.g., SG&A is a period cost). Also called period expense.

W-4 FORM, Employees Withholding Allowance Certification , is completed by each employee so that the employer can withhold the correct federal income tax from the employees pay. Because tax situations may change, employees may want to refigure their withholding each year.

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