What does writeoff mean?
A write-off is a loss or expense that is accepted as unavoidable and is therefore not included in a company's accounts. To write off something means to officially record it as a loss or to cancel a debt.
Example
"The company wrote off the failed project as a loss and moved on to new ventures."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.