An asset is always sold for its residual value at the end of the asset's useful life.

Name: An asset is always sold for its residual value at the end of the asset's useful life.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The residual value of an asset may or may not be equal to its selling price at the end of its useful life. The selling price could be higher or lower than the residual value, depending on various factors such as market conditions, demand, and depreciation.

An Asset Is Always Sold for Its Residual Value at the End