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Quotes of the day:
Everyone can get the gold of the Sun. (Tout le monde cueille l\'or du soleil)
A write-off is an accounting action that reduces the value of an asset while simultaneously debiting a liabilities account. It is primarily used in its most literal sense by businesses seeking to account for unpaid loan obligations, unpaid receivables, or losses on stored inventory. Generally it can also be referred to broadly as something that helps to lower an annual tax bill.
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