Defalcation
Pronunciation : De`fal*ca"tion
Part of Speech : n.
Etymology : [LL. defalcatio: cf. F. d?falcation.]
Definition : 1. A lopping off; a diminution; abatement; deficit. Specifically: Reduction of a claim by deducting a counterclaim; set-off. Abbott.
2. That which is lopped off, diminished, or abated.
3. An abstraction of money, etc., by an officer or agent
Source : Webster's Unabridged Dictionary, 1913