Scrap value is the net annual letting value of a property, which is obtained after deducting the amount of yearly repairs from the gross income.

Name: Scrap value is the net annual letting value of a property, which is obtained after deducting the amount of yearly repairs from the gross income.
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Quizplus · Accepted Answer

Scrap value refers to the estimated residual value of an asset at the end of its useful life, not to property income or letting values.

Scrap Value Is the Net Annual Letting Value of a Property