Deficiency Account
An account used to record the shortfall when liabilities exceed assets, especially in insolvency or liquidation scenarios. It reflects the gap between what’s owed and what’s available to pay creditors, offering a clear view of financial shortfall.
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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…
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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