deficiency

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Deficiency

The amount by which a project's cash flow is not adequate to meet debt service.

Deficiency

1. The amount by which cash flow falls short of debt service. For example, if a company has $300,000 in current liabilities and only $250,000 in cash flow for a given year, its deficiency is $50,000.

2. In taxation, the amount by which one's tax liability exceeds what the individual person or organization reported. For example, if the IRS disallows certain deductions that the taxpayer applied, he/she will owe more in taxes than he/she reported on the return. Deficiency is the amount this taxpayer still owes to the IRS.

deficiency

1. The amount by which an individual's or an organization's tax liability as computed by the Internal Revenue Service exceeds the tax liability reported by the taxpayer.
2. The amount by which a firm's liabilities exceed assets.

deficiency

The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property. The balance remaining, if any, may be collected by the lender by means of taking a deficiency judgment, unless prohibited by law or contract. Deficiency judgments may be collected just like any other judgment, through seizure of other assets or garnishment. There are two circumstances when a lender may not collect any deficiency:

1. In states with consumer protection statutes that outlaw deficiencies on first mortgages on a borrower's principal residence.

2. With mortgage loans designated as nonrecourse, meaning the lender and borrower agreed in advance that the property would stand for the debt and there would be no deficiency allowed in the event of foreclosure.

References in periodicals archive ?
Copper deficiency with pancytopenia during total parenteral nutrition.
As with the present patient, many reported cases of acquired copper deficiency feature a concomitant hyperzincemia that is presumably causal.
The biochemical pathogenesis of molybdenum induced copper deficiency syndromes in rumiants: towards the final chapter.
Copper deficiency and neurological disorders in man and animals.
Even though copper deficiency is not generally a public health concern in the United States, 8 to 16 percent of childbearing-age women had inadequate copper intake, according to ARS national food-intake survey data from 2001 and 2002.
The findings of this study showed that in copper deficiency conditions (control), using biochar has no effect on increasing the fresh and dry yields of sunflower.
Investigation on the mechanism of hypercholesterolaemia observed in copper deficiency in rats.
Less commonly, it can be secondary to postparturient metritis, endotoxemia, colic, enteritis (Merck Veterinary Manual 2008), copper deficiency (Flynn et al.
Lead intoxication has many manifestations (Fischbein 1998), lesser-known of which is induction of copper deficiency (Klauder and Petering 1977).
Whiteley said the cows had been properly fed, but a copper deficiency on the farm had led to their poor condition.
The normal term infant is born with a generous liver copper store, and copper deficiency in neonates is a rare event (5).
Copper should be taken with zinc, because high-dose zinc is linked to copper deficiency.