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LSDefine

Simple English definitions for legal terms

deficit

Read a random definition: husgablum

A quick definition of deficit:

Deficit means spending more money than you have. It can happen to people, companies, or even governments. When you have a deficit, you have to borrow money to cover your expenses. This can be a problem because it means you owe more money than you have. Deficit is used to measure how well a company or government is doing financially. It's important to keep track of deficits so you can make sure you're not spending too much money and getting into debt.

A more thorough explanation:

Deficit refers to a situation where a person, company, or government spends more money than they earn. This means they have a shortage of funds and may need to borrow money to cover their expenses.

For example, if a company spends $100,000 on salaries, rent, and other expenses, but only earns $80,000 in revenue, they have a deficit of $20,000. This deficit can lead to financial problems if it continues over time.

Deficit can also be used in non-monetary contexts. For instance, a student who is not getting enough sleep may have a deficit of rest, which can affect their ability to learn and perform well in school.

In law, deficits are often used to determine financial performance and responsibility. For example, tax laws in the United States tax profits, so a company with a deficit may have a lower tax liability. Courts may also look at deficits to determine if executives are fulfilling their duties to the company and its shareholders.

deficiency judgment | defined benefit plan

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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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