We found 4 definitions of wear and tear from 4 different sources.
Noun |
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wear and tear - decrease in value of an asset due to obsolescence or use | ||
depreciation | ||
financial loss loss of money or decrease in financial value | ||
non-cash expense an expense (such as depreciation) that is not paid for in cash | ||
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 |