It Is Important That Every Company Use Only One Departmentalization

question 42

True/False

It is important that every company use only one departmentalization basis.

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Definitions:

Remaining Tax

The portion of tax liability that remains unpaid after all payments and credits have been applied, effectively the balance due.

Multiple Support Agreement

An agreement that allows multiple taxpayers who support a dependent together to decide who among them gets to claim the tax benefits for that dependent.

Dependent

An individual, usually a child or spouse, who relies on another, often the taxpayer, for financial support and for whom exemptions may be claimed.

Support

Financial assistance provided for maintenance, which can include food, housing, clothing, education, and healthcare.