Definition, Meaning & Synonyms
wipe-off
noun
/ˈwaɪp ɔf/
Definition
A wipe-off refers to a situation in which something, typically a cost or debt, is eliminated or canceled without further action or consequence.
Examples
- After reviewing the finances, the accountant decided it was best to implement a wipe-off for the uncollectible accounts.
- The company reported a wipe-off of several million dollars in bad debts this quarter.
Meaning
The term wipe-off usually implies a clearing or removing of something that was previously on the books, like an expense or obligation.
Synonyms
- write-off
- elimination
- cancellation
- forgiveness
