This term is part of our Unit 7: Depreciation and Amortization vocabulary list. Please note that pronunciations can vary slightly even in the same dialect.
USA
UK
USA
UK
the amount of money that an asset will be worth at the end of its useful life
USA
UK
"The company purchased a $16,000 forklift for use in its warehouse and believes it'll be able to resell the forklift for a salvage value of $1,000 at the end of 8 years."