The process of reducing part of the balance of an asset due to occurrence of some economic event that negatively impacted the asset’s value. That part is charged as an expense or loss account. In this sense, it is a partial write-off. An example is the destruction or obsolescence of part of the inventory.
Accounting
Accounting is the language of business, everywhere, worldwide. It is the means by which virtually every business communicates information about its operations, irrespective of size, scale, objectives, ...
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