SIC Definition

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SIC (STANDARD INDUSTRIAL CLASSIFICATION) is a U.S. Government numerical coding system used in the U.S. to group and classify basically all products and services existing within the U.S. economy.

Learn new Accounting Terms

BURDEN RATE, when referring to personnel burden, is the sum of employer costs over and above salaries (including employer taxes, benefits, etc.). When referring to factory or manufacturing see OVERHEAD.

INVOICE, CONSULAR is an invoice stamped or endorsed by the consulate of the country requiring such.

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