Accounting for IGCSE & O level - Accounting Procedures (Section 3 - No. 6)
What is 'salvage value' in the context of depreciation?
The cost of the asset.
The asset's current market value.
The estimated value of an asset at the end of its useful life.
The annual depreciation expense.
Explanation
Salvage value is the estimated value at the end of the asset's life.
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