The Standard Industry Classification (SIC) system is a federal government established system in which the last two digits indicate the business or industry in which the firm is engaged.

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The Standard Industrial Classification (SIC) system is a federal government established system in which the first two digits indicate the business or industry in which the firm is engaged. The last two digits provide further detail and specific subcategories within that industry. However, the SIC system was replaced by the North American Industry Classification System (NAICS) in 1997.

The Standard Industry Classification (SIC) System Is a Federal Government