Asked by Hannah Crenshaw on Jun 14, 2024
Verified
A fixed asset's estimated value at the time it is to be retired from service is called
A) book value
B) residual value
C) market value
D) carrying value
Residual Value
An asset's expected monetary value at the end of its operational lifespan.
Retired
The status of an individual who has left their professional career, often due to age or reaching financial independence that allows them not to work actively.
Estimated Value
An approximation of the monetary worth of an asset, liability, or a business, determined through analysis or professional judgment.
- Understand the concept of residual value and its significance in the context of fixed assets.
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Learning Objectives
- Understand the concept of residual value and its significance in the context of fixed assets.
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