The expected value of a depreciable asset at the end of its useful life is called ________.
A)book value
B)residual value
C)accrued revenue
D)accrued expense

Question

Quizplus · Accepted Answer

The residual value is the expected value of a depreciable asset at the end of its useful life. Book value is the value of an asset on the balance sheet, which can be calculated as the original cost minus accumulated depreciation. Accrued revenue and accrued expense are both related to accounting for revenues and expenses that have been earned or incurred but not yet recorded.

The Expected Value of a Depreciable Asset at the End