Salvage Value Is

question 14

Multiple Choice

Salvage value is:

• A)Not a factor relevant to determining depletion.
• B)A factor relevant to amortizing an intangible asset with an indefinite life.
• C)An estimate of the asset's value at the end of its benefit period.
• D)A factor relevant to determining depreciation under MACRS.
• E)A factor relevant to determining depreciation that cannot be revised during an asset's useful life.

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Definitions:

Pollution Control Technology

Systems, devices, or practices designed to reduce, eliminate, or manage pollutants emanating from human activity to protect the environment.

Chemical Waste

Hazardous substances produced as byproducts of manufacturing processes, laboratory experiments, or other industrial activities, requiring careful disposal to prevent environmental damage.

Oil Pollution Act

A law enacted in the United States aimed at preventing and responding to catastrophic oil spills, including the establishment of liabilities and penalties.

Discharges

Refers to the release, disposal, or emission of substances, particularly pollutants into the environment; also can refer to the fulfillment or cancellation of a financial obligation.