Define: Wear And Tear

UK Accounting Glossary

Definition: Wear And Tear


Quick Summary of Wear And Tear


A diminution in the value to an organisation of a fixed asset due to the use and damage that it sustains through it’s working life.



What is the dictionary definition of Wear And Tear?

Dictionary Definition


Wear And Tear is a diminution in the value to an organisation of a fixed asset, due to the use and damage that it inevitably sustains through the course of it’s working life.

It is one cause of depreciation.


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Synonyms For Wear And Tear


wear, abrasion, usury, attrition, wearing


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/wear-and-tear/
Modern Language Association (MLA):
Wear And Tear. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 28, 2020 https://payrollheaven.com/define/wear-and-tear/.
Chicago Manual of Style (CMS):
Wear And Tear. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/wear-and-tear/ (accessed: February 28, 2020).
American Psychological Association (APA):
Wear And Tear. PayrollHeaven.com. Retrieved February 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/wear-and-tear/

Definition Sources


Definitions for Wear And Tear are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 4th May 2019.