Meaning of deficiency In English

• 0 a state of not having, or not having enough, of something that is needed:

  • Pregnant women often suffer from iron deficiency.

  • Deficiencies in the education system have been much in the news.

• 1 the lack of something that is needed in order to meet a particular standard or level of quality, or the thing that is lacking:

  • [ U ] Many women suffer from iron deficiency.

• 2 a situation in which something is not as good as it should be:

  • a deficiency in sth The audit revealed deficiences in the accounting system.

  • an operations/performance/service deficiency

  • identify/highlight a deficiency We need to identify any deficiencies in the system and address them immediately.

  • address/correct/remedy a deficiency

• 3 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 borrow additional funds as long as any deficiency exists in the capital reserve fund.

  • The accounts show a balance sheet deficiency - the amount by which liabilities exceed assets - of £13.19m at December 31.

  • The company has suffered recurring losses from operations and has a net capital deficiency that raises substantial doubt about its ability to continue as a going concern.

• 4 the amount by which the tax recorded in someone's financial records is less than the tax they actually owe, or a situation in which this happens:

  • The IRS notified him that he was subject to a $10000 tax deficiency for the 2009 tax year.