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Longman Dictionary English

From Longman Business Dictionaryset something (off) against something phrasal verb [transitive] ACCOUNTING to balance two amounts of money, so that the income you receive and the money you pay in tax, interest etc are as close to each other as possibleTrading losses can be set against income from the disposal of assets.The company will be able to set off the tax credit against part of its debt liability. → set→ See Verb table
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May 11, 2025

candle
noun ˈkændl
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