What does write off mean?

Looking for the meaning or definition of the word write off? Here's what it means.

Verb (accounting) To reduce an asset's book value to zero. (accounting) To record an expenditure as an expense. (accounting) To remove a portion of a debt or an amount of an account owed, counting it as a loss (as a gesture of goodwill for example). (accounting) To record a notional expense such as amortization or depreciation. Figuratively, to assign a low value to something. Find more words! 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You never can write off a team quarterbacked by Brett Favre, but you have to wonder whether Green Bay's window of opportunity is closing. I thus have been inclined to write off the success of my prediction as just a happy accident. The critics and the knockers were out in force to quickly write off their chances. At the meeting, Ms Blears had refused to write off the debt the PCT owes to the Government. Yet those who might write off the Commonwealth and European medallist have short memories. See Also What is another word for write off? What is the opposite of write off? Sentences with the word write off Words that rhyme with write off What is the past tense of write off? Translations for write off Nearby Definitions writeoff write-ins writeing write-in write in write home about write-off writeoffs write-offs write once write one's own ticket write-only