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LSDefine

Simple English definitions for legal terms

deferred expense

Read a random definition: paper money

A quick definition of deferred expense:

A deferred expense is a cost that a business incurs but expects to benefit from over a period of time beyond the current year. An example of a deferred expense is a prepaid subscription to a business periodical, where the cost will be recognized as an expense over a multiyear subscription period. It is different from an accrued expense, which is an expense incurred but not yet paid. A deferred expense is not immediately deductible, but it can be used for depreciation or amortization.

A more thorough explanation:

A deferred expense is a cost incurred by a business that will benefit the business over a period beyond the current year. This means that the expense is paid for now, but the benefit will be received in the future. An example of a deferred expense is a prepaid subscription to a business periodical, where the cost will be recognized as an expense over a multiyear subscription period.

Another example of a deferred expense is when a company pays for a long-term asset, such as a building or equipment, that will provide benefits for many years. The cost of the asset is not recognized as an expense in the year it is purchased, but is instead recognized over the useful life of the asset through depreciation or amortization.

Overall, a deferred expense is an expense that is paid for now, but the benefit will be received in the future.

deferred-dividend insurance policy | deferred income

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7sage
people who have found their way to this website are in way too deep tbh
16:56
I applied in September to schools bad idea I have been waiting so long
16:57
i seeee i see thanks guys
@ChowieBean: Karen Buttenbaum from Spivey is a former HLS adcomm, I thought she was worth the money
17:03
ok bet i just emailed them. anyone else yall recommend?
17:03
thank you <3
Dkk
17:09
wow Michigan christmas wave, how nice
texaslawhopefully
17:17
@Unrepentant-Caucasian: I'm also in Houston
Hell yeah. Drinks are on me after we both get in.
texaslawhopefully
17:26
I interviewed a month ago so hoping we both get the A come the 6th!
17:43
I signed up for a consultation with Spivey but it’s with a guy named Sir Williams lol
@texaslawhopefully: who knows if this is still true, but according to my Spivey consultant, they typically interview ~133% of eventual admits, which means an II gives you a 75% chance of getting an A
So the odds are in our favor, inshallah
texaslawhopefully
17:49
@Unrepentant-Caucasian: It is true. They publish the data online and the interview yield rate is typically 70-75 percent.
Say less, future roomie. I’ll see you in Cambridge
texaslawhopefully
17:54
Yes! In all seriousness come back here on the 6th if we both get in and I’ll share my contact details via dm
hey anyone willing to chance me for umich?
you won't get in your stats are too high theyll WL you
you should target rest of t14, umich yield protects super hard. don't apply duke tho because it's too late to apply duke
TerribleOverratedPanther
20:09
You never know! I got into UMichigan and I also had high data points like @YoungThugLawyer. At the end of the day, I am sure that you will end up at a great law school, and I hope we attend the same one. Good luck! 🙂
20:19
@KnowledgeableRitzyWasp: chance me for umich
texaslawhopefully
20:24
Yeah waspy is right. Michigan is notorious for yield protecting
20:32
i’m sillypilled
20:32
goofymaxxing
20:34
the university of michigan please be prepared for this
texaslawhopefully
20:36
I’m sure you’ll get into NYU, and Mich wont matter 🫡
21:03
very sweet
21:04
happy holidays you guys
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