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 ?
Cutaneous and neurologic manifestations of biotinidase deficiency.
The nine mandated disorders are biotinidase deficiency, congenital adrenal hyperplasia, hypothyroidism, hemoglobinopathies, toxoplasmosis, galactosemia, phenylketonuria (PKU), maple syrup urine disease (MSUD), and homocystinuria (HCU).
In another case, both C3 and C5 were substantially increased but no specific metabolic disorder was defined, although these two metabolites have been observed to be increased in cases of biotinidase deficiency or multiple CoA carboxylase deficiency.
Ongoing research in disciplines including cell biology, biochemistry, enzymology and genetics (aided by increasing sophistication of techniques such as electron microscopy, chromatography, and spectrophotometry) enabled development of tests for congenital hypothyroidism, biotinidase deficiency, congenital adrenal hyperplasia, and hemoglobinopathies such as sickle cell disease.
pyruvate dehydrogenase deficiency [9], mitochondrial myopathies [10,11], and biotinidase deficiency [12]; measurement of lactate in CSF has also been advocated for investigating children with unexplained neurological disease [1,13].