deficiency

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Related to deficiency disease: hereditary disease, scurvy

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 ?
Deficiency diseases naturally align with the environmental imperatives of medical ecology.
These scientific discoveries and the resulting public health policies, such as food fortification programs, led to substantial reductions in nutritional deficiency diseases during the first half of the century.
Near the start of the 20th century, students of nutrition were investigating not deficiency diseases as such, but what were the components of a physiologically complete diet.
Mortality from septicemia, the quintessential immune deficiency disease of old people, was extremely rare in 1950.
The trust was established by Shirley Nolan in an attempt to save her son Anthony, who suffered from an immune deficiency disease.
BERI BERI is a vitamin deficiency disease which inflames nerves all over the body.
The RDAs for vitamin C are at the level needed to prevent deficiency disease, but what is the optimal dose?
Irwin Stone cites research evidence that links scurvy with tuberculosis (a high incidence of the deficiency disease with cases of tuberculosis).
Editorial Note: Pellagra is a nutritional deficiency disease characterized by dermatitis on areas of the body exposed to sunlight, such as the face, neck, arms, and legs.
It is that substance that, when missing from the diet, causes the deficiency disease scurvy.
At 9 months old, doctors diagnosed him with Common Variable Immune Deficiency disease, a genetic disorder that leaves his immune system defenseless to dangerous infections.
Dalton Bates of Balfour Street in Houghton-le-Spring, Tyne and Wear, has the muscle deficiency disease arthrogrytosis multiplex congenita which stopped his muscles developing in the womb.