A deliverable is an input/output term that refers specifically to the unique and individual products, elements, results, or items that are produced for delivery at the conclusion of a specific project component, or at the conclusion of the project as a whole.
In next picture, you will find a good way to understand the relations between each type of deliverable. Notice that in the PMBOK 5th edition Validated Deliverable is also named as Verified Deliverable.
As you know deliverables are generated in the Direct and Manage Project Work, therefore they are an output of that process. The next step is the Quality Control where those deliverables will be inspected to ensure internal acceptance. The deliverables have been inspected now by the quality internal department of the company and they became Validate Deliverables but it does not mean the customer will be satisfied so they will go through the Validate Scope process to get the ok from the customer and became Accepted Deliverables.
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