Deficit - Dictionary Definition and Overview

Deficit :  (noun)
1: the property of being an amount by which something is less than expected or required [syn: shortage, shortfall]
2: an excess of liabilities over assets (usually over a certain period)

Based on WordNet 2.0

Deficit : \Def"i*cit\, n. [Lit., it is wanting, 3d person pres. indic. of L. deficere, cf. F. d['e]ficit. See Defect.] Deficiency in amount or quality; a falling short; lack; as, a deficit in taxes, revenue, etc. --Addison.

Based on Webster's Revised Unabridged Dictionary

DEFICIT. This Latin term signifies that something is wanting. It is used to express the deficiency which is discovered in the accounts of an accountant, or in the money in which he has received.

Based on Webster's Revised Unabridged Dictionary (1913)
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