Residual value
Residual value (hereinafter, the Value) is estimated value of an asset after all the allowable depreciation has been taken. Rarely, the Value can also refer to salvage value.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Residual value. Estimated value of an asset after all the allowable depreciation has been taken.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
