Simple English definitions for legal terms
Read a random definition: civil-liability act
A deferred claim is when someone waits to get something they are owed until a later time. This means that the person will not receive what they are owed until a future time, usually in the next accounting period.
A deferred claim is a claim that is postponed to a future accounting period. This means that the claim will not be recognized or paid until a later date.
These examples illustrate how a claim can be recognized in one accounting period, but the payment or resolution of the claim is postponed to a future period. This can affect a company's financial statements and must be properly accounted for in order to accurately reflect the company's financial position.