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Deferred Income
It is also known as unearned revenue, it refers to money received for goods or services not yet delivered. It’s recorded as a liability until the service is performed or the product is delivered, at which point it’s recognized as revenue.
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Deficiency Account
An account used to record the shortfall when liabilities exceed assets, especially in insolvency or liquidation scenarios. It reflects the…
Deferred Payment Sale
A sales agreement where the buyer receives goods now but pays in future installments. The revenue is often recognized at…
Deferred Liability
Deferred liability is a financial obligation not due until a future date beyond the current accounting period. Examples include pension…
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