The residual value of a non-current asset is the amount or consideration actually received by an entity at the date of the asset's disposal.

Question

Quizplus · Accepted Answer

The residual value of a non-current asset is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. It is not the actual amount received at the date of disposal.

The Residual Value of a Non-Current Asset Is the Amount