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Reserves and Surplus

The amount re...

Question

The amount realised at the end of working life of an asset is known as ____________ .

A

Residual value

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B

Market price

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C

Original cost

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D

Written down value

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Solution

The correct option is A Residual value
In accounting, the residual value is an estimated amount that a company can acquire when they dispose off an asset at the end of its useful life

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