A fixed asset's estimated value at the time it is to be retired from service is called

A) book value
B) residual value
C) market value
D) carrying value

Residual Value

The anticipated residual value of an asset when it reaches the end of its functionality period.

Estimated Value

A valuation measure based on an appraisal, cost, or pricing models to determine the likely selling price or value of an asset.

Fixed Asset

An asset with long-term use or value, such as land, buildings, and machinery, typically not easily converted into cash within a year.