Residual value is: A. Also called residual value. B. Also called scrap value. C. An estimate of the asset's value at the end of its benefit period. D. A factor relevant to determining depreciation. E. All of these.
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Residual value is:
A. Also called residual value.
B. Also called scrap value.
C. An estimate of the asset's value at the end of its benefit period.
D. A factor relevant to determining depreciation.
E. All of these.
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- An estimate of how an asset will be used up over its useful life is known as what? a. Depreciation rate b. Impairment value c. Useful life d. Salvage valueThe factors used to compute depreciation expense are an asset's: O Cost, residual value, and service life. O Cost, residual value, and physical life. O Cost, replacement value, and service life. O Fair value, residual value, and economic life.The book value of an asset is equal to thea. Replacement cost.b. Asset’s cost less accumulated depreciation.c. Asset’s fair value less its historical cost.d. Historical cost plus accumulated depreciation.
- The cost of an asset that is subject to depreciation is called a.depreciable cost. b.trade-in value. c.salvage value. d.revenue.The allocation of the cost of a tangible asset to expense in the periods in which the asset is used is termed as: Select one: a. Depreciation b. None of the given options c. Appreciation d. FluctuationDepreciation is a process of: a. Asset devaluation b. Cost accumulation c. Cost allocation d. Asset valuation
- Which of the following best describes the higher of an asset's net selling price and its value in use? Select one: a. Recoverable amount b. Depreciable amount c. Revalued amount d. Carrying valueSalvage value is: O Also called residual value Also called scrap value O An estimate of the asset's value at the end of its benefit period O A factor relevant to determining depreciation O All of the aboveThe difference between cost of the asset and residual value is known as a . Depletion b . Salvage value c . Total cost of the asset . d . Depreciable cost