salvage value

noun

Legal Definition of salvage value

1 : the value of damaged property
2 : the actual or estimated value realized on the sale of a fixed asset at the end of its useful life

Note: Salvage value is used in calculating depreciation.

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salvage

salvage value

same evidence test

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Cite this Entry

“Salvage value.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/salvage%20value. Accessed 25 Sep. 2021.

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