Definitions (3)

1.General: Unrecoverable and usually unanticipated and non-recurring removal of, or decrease in, an asset or resource.
2.Accounting: (1) cost that produces no benefit, (2) decrease in value, (3) excess of expenditure over income, (4) excess of cost over the net proceeds from a transaction.
3.Insurance: (1) reduction in the value of an insured property due to an insured peril, (2) amount sought in an insurance claim, or (3) amount paid under an insurance contract.

Use loss in a sentence

  • I decided to generate the profit and loss statement for our company to straightforwardly and directly express the financial health of our company to the boss.

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  • The man struggled at air hockey and suffered a loss every game he played because he lacked a technique and the ability to hit the puck hard.

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  • Following a series of unfortunate events -- including an earthquake, stock market scandal, high profile embezzlement and widespread product recall -- the company suffered a devastating financial loss from which it might never recover.

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