RESPONSIBILITY CENTER Definition

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RESPONSIBILITY CENTER is a subunit in an organization whose manager is held accountable for specified financial results of its activities.

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DEVALUATION, in economics, is the lowering in value of one currency in relation to other currencies.

SUBCHAPTER S is a legal corporate entity organized under the United States Federal Tax Code that allows Subchapter S Corporations to distribute all income / loss proportionately to its shareholders, who then claim that income / loss on their personal income taxes; thereby avoiding the payment of corporate taxes.

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