* The current value of an asset is the amount that the asset is worth at the present time, based on its original cost and the accumulated depreciation1.
* The current value of an asset is also known as the residual value or the book value12.
* The residual value is the estimated value of the asset at the end of its useful life2.
* The residual value is used to calculate the depreciation expense of the asset over its useful life2.
* The residual value is different from the salvage value, which is the estimated value of the asset if it is sold or disposed of2.
* The cost of ownership is the total amount of money spent on acquiring, maintaining, and operating an asset over its lifetime3.
* The current balance is the amount of money available in an account at a given time4.
References: 1: Asset depreciation 2: Depreciation 3: Cost of ownership 4: Current balance