Net out
Hi,
I was looking for the meaning of 'net out' and I came across this example.
"The facility showed a gross loss of $2.8m, which, when set against investors' deposits of £1.5m, netted out at $1.36m."
I'm still a bit confused. What do 'set against' and 'net out' mean in this case? I thought that 'set something against tax' means that you pay lower taxes for things that you bought and that have something to do with your job. However, 'set aganst investors' deposits' is something I can't really get to the bottom of.
Thank you.
Top answer
This is not standard English. It's in jargon, apparently banker's jargon. " "Net" is the total including things you add and things you subtract.
- This is not standard English.
- It's in jargon, apparently banker's jargon.
- " "Net" is the total including things you add and things you subtract.
- Packages of food for instance will often have a "net weight", which is the weight you would obtain if you took the weight of the whole box and subtracted the weight of the empty box.
- So in that case it's the weight of the food inside.
Get the Weekly English Kit 📬
New words, one handy idiom, and a 2-minute quiz — delivered to your inbox to keep your streak alive.
This is not standard English. It's in jargon, apparently banker's jargon. In more standard English it would read something like this:
"The facility showed a gross loss of $2.8m, offset by revenues of £1.5m from investor's deposits, resulting in a net gain of $1.36m."
"Net" is the total including things you add and things you subtract. Packages of food for instance will often have
0Adjustments may be positive or negative.
Gross ~ amount before adjustments
Net ~ amount after adjustments
Net = Gross + adjustments
OR Adjustments set against Gross nets out to Net.
Usually 'set against' is used when one amount is the opposite of the other in polarity. You set a negative number against a positive and set a positive number against a negative.
0
Related Questions