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- Dictionarywrite-off/ˈrʌɪtɒf/
noun
- 1. a vehicle or other object that is too badly damaged to be repaired: British "the passengers were unharmed, but my car was a total write-off"
- 2. a cancellation from an account of a bad debt or worthless asset: "their profits are weakening thanks to loan write-offs"
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WRITE SOMETHING OFF definition: 1. to accept that an amount of money has been lost or that a debt will not be paid: 2. to be able…. Learn more.
1. : an elimination of an item from the books of account. 2. a. : a reduction in book value of an item (as by way of depreciation) b. : a tax deduction of an amount of depreciation, expense, or loss. 3. chiefly British : something (such as a damaged vehicle) or someone regarded or conceded as a loss. write off. 2 of 2. verb.
Definition: A write off is the process of removing an asset or liability from the accounting records and financial statements of a company. Companies tend to write off assets because the assets are no longer available or valid.
A write-off is a financial transaction that involves removing a specific asset or debt from a company’s books, acknowledging that it’s unlikely to be recovered or paid. In essence, it’s an accounting measure that recognizes a loss or expense, reducing the reported value of an asset or the recorded revenue.
A write-off is a reduction of the recognized value of something. In accounting, this is a recognition of the reduced or zero value of an asset. In income tax statements, this is a reduction of taxable income, as a recognition of certain expenses required to produce the income.
Jul 24, 2024 · What Is a Write-Off? A write-off is a business accounting expense that accounts for unreceived payments or losses. A write-off reduces taxable income on a company's income...
A write-off is a business accounting expense that is reported for unreceived payments or losses from assets. Here’s how and when write-offs are commonly done.
A write-off is an amount corresponding to the book value of the bad debt or obsolete asset that is canceled from an account against gross profits.
Write-off definition: a cancellation from the accounts as a loss.. See examples of WRITE-OFF used in a sentence.
Jul 9, 2024 · A write-off reduces the value of an asset to zero and negates any future value. A write-off is typically a one-time event, entered in a company's books immediately when an...
