deficiency Meaning in the Cambridge English Dictionary

Meaning of “deficiency” in the English Dictionary

"deficiency" in British English

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deficiencynoun [C or U]

uk   us   /dɪˈfɪʃ.ə
C1 a ​state of not having, or not having enough, of something that is ​needed: Pregnant women often ​suffer from ​iron deficiency. Deficiencies in the ​educationsystem have been much in the ​news.
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(Definition of deficiency from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"deficiency" in American English

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deficiencynoun [C/U]

 us   /dɪˈfɪʃ·ən·si/
the ​lack of something that is ​needed in ​order to ​meet a ​particularstandard or ​level of ​quality, or the thing that is ​lacking: [U] Many women ​suffer from ​iron deficiency.
(Definition of deficiency from the Cambridge Academic Content Dictionary © Cambridge University Press)

"deficiency" in Business English

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deficiencynoun [C]

uk   us   /dɪˈfɪʃənsi/ (plural deficiencies)
[C] a ​situation in which something is not as good as it should be: a deficiency in sth The ​audit revealed deficiences in the ​accountingsystem. an ​operations/​performance/​service deficiencyidentify/highlight a deficiency We need to ​identify any deficiencies in the ​system and ​address them immediately. address/​correct/​remedy a deficiency
ACCOUNTING the ​amount by which something such as ​income or ​profit is less than it should be: a deficiency in sth They are not ​permitted to ​borrowadditionalfunds as ​long as any deficiency exists in the ​capitalreservefund. The ​accounts show a balance sheet deficiency - the ​amount by which liabilities ​exceedassets - of £13.19m at December 31. The ​company has suffered ​recurringlosses from ​operations and has a ​net capital deficiency that ​raisessubstantial doubt about its ​ability to continue as a going ​concern.
US TAX, ACCOUNTING the ​amount by which the ​taxrecorded in someone's ​financialrecords is less than the ​tax they actually ​owe, or a ​situation in which this ​happens: The ​IRSnotified him that he was ​subject to a $10000 tax deficiency for the 2009 ​taxyear.
(Definition of deficiency from the Cambridge Business English Dictionary © Cambridge University Press)
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