deficiency
- A situation where what is available falls short of what is needed
- The gap created when the actual payment of tax falls short of the tax liability
- The gap between the outstanding loan amount and the funds received from selling a repossessed collateral
- The deficiency in the financial reports caused major concerns among the stakeholders.
- After selling the repossessed car, the bank still noted a deficiency in repaying the total loan amount.
- Due to a deficiency in tax payments, there were penalties imposed.
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