SHRINKAGE Definition

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SHRINKAGE is: 1. the amount by which something shrinks; 2. process or result of becoming less or smaller (Example: "The material lost 2 inches per yard in shrinkage") or, 3. the act of stealing goods that are on display in a store (Example: "Shrinkage" is the retail trades euphemism for shoplifting).

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DEFERRED EXPENDITURE is an expenditure for which payment has been made or a liability incurred but which is carried forward on the presumption that it will be of benefit over a subsequent period or periods. This is also referred to as deferred revenue expenditure.

FICA (FEDERAL INSURANCE CONTRIBUTIONS ACT) is the U.S. law requiring U.S. employers to match the amount of Social Security tax deducted from an employees paycheck.

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