Write Off

Sometimes, the value of an asset is reduced to zero. This usually occurs when the asset does not have any re-value or is of no use to the company. In such a case, we write it off.

Let’s say you have a motor vehicle which is at the end of its useful life. The accumulated depreciation will be used to offset the asset value to zero and this is where we write off the asset value to zero.

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Related Terms

• Waiver
• Write Off
• Write Down