DIVISION Definition

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DIVISION is a self sufficient unit within a company. A division contains all the functions necessary to operate independently from the parent company.

Learn new Accounting Terms

INPUT VAT is the VAT on a companys input supplies. See also VALUE ADDED TAX (VAT).

SPIN-OFF RULING is a legally binding ruling by the Internal Revenue Service as to any aspect of a spin-off by a corporation. See also SPIN-OFF.

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