The terms salvage value and residual value refer to the estimated proceeds on the disposition of an
A)asset, only.
B)asset less all removal costs, only.
C)asset less all removal and selling costs.
D)asset plus all removal and selling costs, only.
E)estimated proceeds on the disposition of an asset plus all selling costs, only.

Question

Quizplus · Accepted Answer

Salvage value or residual value is the estimated amount that an entity expects to obtain from the disposal of an asset at the end of its useful life, after deducting any removal and selling costs.

The Terms Salvage Value and Residual Value Refer to the Estimated