Salvage value
Revision as of 10:53, 20 December 2018 by Gary (talk | contribs) (Created page with "Salvage value is the amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped. ==Definitions== According to College Accounting:...")
Salvage value is the amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Salvage value. The amount of the asset's cost that will be recovered when the asset is sold, traded in, or scrapped.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
