LCM Definition

LCM is Lower of Cost or Market.

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DELFALCATION is to misuse or embezzle funds.

DEPENDENT, generally, is a person who relies on another person for support (especially financial support) in U.S. tax law, it means a dependent as defined in tax code Section 152 which excludes those individuals who do not qualify for a dependent deduction on the employee's tax return including domestic partners and parents.

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