Business Terms and Jargon Explained

What is Write off

This is where a debt has been cancelled or is said to be a write off. Anything that no longer has a value or has a scrap value.

Examples:
1)A company whose asset no longer has a value. The asset is a write off.
2)A car crashes and is no longer usable. The car is a write off.

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Term created / updated 2005-07-16 23:12:15

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