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deficit

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

This term is used in place of retained earnings when the balance in the retained earnings account is negative (a debit balance).

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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