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I wonder whether someone here would be able to help me find a correct technical term pertaining to covering a loss incurred by a company in an accounting year. More specifically, I'm thinking of a verb to replace 'cover' in the above context, as I'm sure it's not the right legal term.
The expressions I have on my mind are the following:
to compensate for the loss incurred
to redeem the loss
to remit the loss
Any help greatly appreciated.
Thanks, Tdol. 'set off' is the verb I needed. (Why didn't I think of it?!)
It took me a bit of head-scratching to get there.