Deficit

Posted in Finance, Accounting and Economics Terms, Total Reads: 1015
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Definition: Deficit

It is the amount of money by which the expenses exceed the income or liabilities exceed the assets. In short it is the monetary shortage faced by the firm.

It may also refer to a shortfall in the budged revenue experienced.

In case of economics, the trade deficit is the amount by which a country’s imports exceed its exports. 

 

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