Question:
Estimated sale value of an asset after its working life is called:
Estimated sale value of an asset after its working life is called:
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Scrap value is essential for calculating depreciation using methods like the Straight Line Method.
Updated On: Dec 18, 2024
- Original value
- Scrap value
- Market value
- Book value
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The Correct Option is B
Solution and Explanation
The Scrap Value of an asset is its estimated residual value at the end of its useful life. It represents the expected selling price of the asset after it becomes obsolete or unfit for further use.
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