Accounting for IGCSE & O level - Accounting Procedures (Section 11 - No. 19)
What does the salvage value represent?
The amount of the asset that is depreciated
The estimated value of an asset at the end of its useful life
The original cost of the asset
The current market value of the asset
Explanation
Salvage value represents the estimated value of an asset at the end of its useful life.
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