alleryStart learning →Salvage value of an asset is also known as its?
AResidual value
BFace value
CMarket capital
DGoodwill
Answer & Solution
Correct answer: A. Residual value
Salvage value and residual value are two names for the amount expected at the end of the asset's life.
Keep practising Depreciation and Amortisation
Browse all Depreciation and Amortisation questions for CA Foundation, or explore more Accounting topics.
Related questions
How does depreciation expense affect the reported net income?Depletion is most used in which group of industries?Depletion is the using up of natural resources by which activity?Cost depletion allocates the cost of a resource in proportion to what?Pooling of similar assets bought in one year helps tax systems to?Buildings are generally given what depreciable lives under tax systems?For tax depreciation, bare land generally receives?A tax system that allows a fixed percentage of cost each year is called?