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What is the difference between write back and write off?
These are the terms generally used for Payable and Receivable.When you have payables and Creditors do not claim,youcan writeback them and take the credit in P&L andwhen you have receivables and you are not gettingthem, youcan write off the same and charged to P&L.
What is the difference between contingent liability and off balance sheet liability?
There is no difference between Contingent Liability and Off Balance Sheet Liability.
What is the difference between asset write off and asset disposal?
When an asset is damaged beyond repair and you scrap it, you write it off. It may or may not be fully depreciated at that time. If it's not fully depreciated yet, your amt for Fixed assets written off would equal to the net book value. When you write off an asset, you don't get any proceeds for it. When you dispose of an asset by selling it, you'd get some proceeds from the sale and you use this amt to calculate your gain or loss on sale of fixed asset.
What is the plural form of write-off?
Write-offs is the plural of write-off
Can you take the difference off taxes between what the IRS pays for gas mileage and what your company pays?
You can in the UK
