wear and tear

Definitions of wear and tear
  1. noun
    decrease in value of an asset due to obsolescence or use
    synonyms: depreciation
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    straight-line method, straight-line method of depreciation
    (accounting) a method of calculating depreciation by taking an equal amount of the asset's cost as an expense for each year of the asset's useful life
    write-down, write-off
    (accounting) reduction in the book value of an asset
    deduction, tax deduction, tax write-off
    a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket
    type of:
    non-cash expense
    an expense (such as depreciation) that is not paid for in cash
    financial loss
    loss of money or decrease in financial value
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