n.

1. an amount allowed or granted (as during a given period)
   
   • travel allowance
   • my weekly allowance of two eggs
   • a child's allowance should not be too generous
2. a sum granted as reimbursement for expenses
3. an amount added or deducted on the basis of qualifying circumstances;
   adjustment
   
   • an allowance for profit
4. a permissible difference; allowing some freedom to move within limits;
   leeway, margin, tolerance
5. a reserve fund created by a charge against profits in order to provide for changes in the value of a company's assets;
   valuation reserve, valuation account, allowance account
6. the act of allowing
   
   • He objected to the allowance of smoking in the dining room

v.

1. put on a fixed allowance, as of food