One of several terms can be used to identify the expected cash value of a tangible long-lived asset at the end of its useful life. Which term below is not used in this sense?

Question

Quizplus · Accepted Answer

Current carrying amount refers to the value of an asset on the balance sheet at a specific point in time and does not relate to its expected cash value at the end of its useful life. The other terms, scrap value, salvage value, and residual value are all used to identify the expected cash value of a tangible long-lived asset at the end of its useful life.

One of Several Terms Can Be Used to Identify the Expected