write-off
verb
Definitions
To reduce the book value of (an asset) to zero.
To record (an expenditure) as an expense.
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).
To record a notional expense such as amortization or depreciation.
noun
Definitions
The cancellation of an item; the amount cancelled or lost
Something that is now worthless (such as a car after an accident)