Which term describes the remaining value of an asset at the end of its useful life?

The term that describes the remaining value of an asset at the end of its useful life is salvage value. Salvage value represents the estimated resale value of an asset once it is no longer in use for its intended purpose. This value is important for businesses when they are calculating depreciation and overall asset management, as it influences the total cost of ownership and financial projections.

Salvage value is typically considered during the asset's depreciation schedule, impacting how much of the asset's cost is allocated as an expense over its useful life. It reflects the amount the asset might be sold for, providing a financial benefit to the owner at the end of the asset's life. Understanding salvage value is crucial for accurate financial reporting and informed decision-making in asset management.