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Home > QFINANCE Dictionary > Definition of wear and tear

Definition of

wear and tear

Accounting

degeneration of asset owing to normal use the deterioration of a tangible fixed asset as a result of normal use. This is recognized for accounting purposes by depreciation.

Definitions of ’wear and tear’ and meaning of ’wear and tear’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’wear and tear’ and other financial terms with our online QFINANCE Financial Dictionary.

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