Main Entry: de·fal·ca·tion

Pronunciation: \ˌdē-ˌfal-ˈkā-shən, ˌdē-ˌfȯl-, di-; ˌde-fəl-\

Function: noun

Date: 15th century

1 archaic : deduction
2 : the act or an instance of embezzling
3 : a failure to meet a promise or an expectation