Deferred Credit

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Definitions
Deferred Credit (Deferred Income; Deferred Liability)
Deferred Credit Deferred Income Deferred Liability Accruals Concept Balance Sheet Government Grant Accounting
Deferred Credit represents income received or recorded before it is earned, and it adheres to the accruals concept by being carried forward on the balance sheet until it is matched with the period in which it is earned.
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Definitions
Deferred Income
Deferred Income Deferred Credit Unearned Revenue Accounting Financial Statements Accrual Accounting Income Recognition
Deferred income, also known as unearned revenue or deferred revenue, refers to payments received by a business for goods or services that have yet to be delivered or completed.
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Definitions
Deferred Liability
Deferred Liability Deferred Credit Accounting Terms Financial Obligations Balance Sheet Future Payment
Deferred liability refers to financial obligations that a company incurs but will not pay until a future period. It represents money that has been received for goods or services not yet delivered, and thus is classified as a liability until the delivery is made.
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Definitions
Liability
Liability Financial Obligation Balance Sheet Accounting Current Liabilities Long-Term Liabilities Deferred Credit Secured Liability Contingent Liability
A liability is an obligation that a company needs to settle in the future, generally in the form of economic benefits such as money. Liabilities often result from past transactions and play a crucial role in a company's financial health by representing what it owes.
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