DEFICIT Definition

DEFICIT is a debit balance in the Retained Earnings account resulting from accumulated losses.

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FACE-AMOUNT CERTIFICATE is a debt security issued by face amount. The holder makes payments periodically to the issues, and the issuer promises to pay the purchaser the face value at maturity or the surrendered value if the security is presented by the maturity specified in the certificate.

WORTH is an indefinite quantity of something having a specified value.

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