DEFICIT Definition

Bookmark and Share

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

Learn new Accounting Terms

ABSORPTION PRICING is where all costs, both fixed and variable; plus a percentage mark-up for profit; are recovered in the price.

GOING CONCERN CONCEPT is the underlying assumption that any accountant makes when he prepares a set of accounts. That the business under consideration will remain in existence for the foreseeable future.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.