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What is deferred cost and deferred liability?

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Question added by Tanwir Afzal Syed , Financial Controller , Azadea Group of Companies, Kuwait
Date Posted: 2015/02/06
Shamraiz Imtiaz
by Shamraiz Imtiaz , Accountant , VITAL TEA COMPANY

A deferred cost is a cost that occurred in a transaction, but will not be expended until a future accounting records   A liability that usually would have been paid but is now past due..

APOLLONARY WAWIRE WEKESA
by APOLLONARY WAWIRE WEKESA , Finance Officer , National Treasury of Kenya

refers to a debt which is incurred and due which a person or entity does not resolve with a payment. The payment will be due at some point in the future and thus the liability is said to be “deferred.

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