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Glossary   >   D   >   "Deficit" Definition            Deficit An excess of liabilities over assets, of losses over profits, or of expenditure over income. A situation where liabilities exceed assets, expenditures exceed income, imports exceed exports, or losses exceed profits. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Deficit \ An excess of liabilities over assets, of losses over profits, or of expenditure over income.

A situation where liabilities exceed assets, expenditures exceed income, imports exceed exports, or losses exceed profits.