Deficits
Definitions
- (n.) Plural of deficit; amounts by which expenditures or liabilities exceed income or assets.
The government's annual deficits prompted calls for fiscal reform.
Forms
- deficit
Related terms
Commentary
This entry reflects that 'deficits' is the plural form of the noun 'deficit,' with no separate legal meaning.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.