Deferred Liability
Deferred liability is a financial obligation not due until a future date beyond the current accounting period. Examples include pension obligations, long-term leases, or deferred tax liabilities. They are listed as non-current liabilities on the balance sheet and help in long-term financial planning.
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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 Income Tax
A tax liability or asset that arises due to differences between accounting income and taxable income. These timing differences create…
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