Question

What is salvage value?

Answer 1

Salvage value is referred to as the estimated value of an asset at the end of its useful life on which it can be resold. Or it can be said as the book value of an asset after all the depreciation is accounted for.

Also read:

• True and False Questions on Depreciation
• What Is Depreciation
• MCQs on Depreciation
• What Is a Fixed Asset
• MCQs on Goodwill

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