The value of property during its useful life based on purchase value and depreciations etc. is known as:
The value of property during its useful life based on purchase value and depreciations etc. is known as:
1). Junk value
2). Salvage value
3). Scrap value
4). Book value
1 answers
Book value is the value of asset recorded on the accounting books of the firm at a given time period. It is generally calculated at the end of each year. Book value at the end of a given year equals the initial cost less the total depreciation amount till that year.
Salvage value represents estimated market value of the asset at the end of its useful life. It is the expected cash inflow that the owner of the asset will receive by disposing it at the end of useful life.
Useful life represents the expected number of years the asset is useful in terms of generating revenue. The asset may still be in working condition after the useful life but it may not be economical. Useful life is also known as depreciable life. The asset is depreciated over its useful life. Scrap Value implies that the asset has no further useful life.Other Questions
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