Nonrecoverable

Nonrecoverable refers to an asset, resource, or expense that cannot be obtained back or retrieved after being lost, used, or expended. This term is often used in financial contexts to describe costs that have been incurred and cannot be recovered, leading to permanent loss. Examples include depreciation or nonrefundable expenditures.

Nonrecoverable meaning with examples

• In the realm of finance, many businesses face nonrecoverable expenses during initial start-up phases, leading to complex budgeting decisions as they strive to minimize losses without sacrificing quality or innovation.
• When companies face nonrecoverable losses due to market fluctuations, stakeholders often must reevaluate their investment strategies to mitigate future risks and maximize potential returns.
• During the audit process, the accountant highlighted several nonrecoverable costs that the firm incurred last year, emphasizing the importance of monitoring expenditures closely to avoid similar financial pitfalls.
• The contractor emphasized that the damages incurred from the client's late response were nonrecoverable, clarifying that any costs associated with delays would not be compensated due to the contract's terms.