Question

explain scrap value

Answer 1

Scrap value, also called salvage value, is the value of an asset after it has come to the end of its useful life.

Answer 2

In financial accounting, scrap value is associated with the depreciation of assets used in a business. In this situation, scrap value is defined as the expected or estimated value of the asset at the end of its useful life. Scrap value is also referred to as an asset's salvage value or residual value.