The following statements pertain to the Salvage value of a property.
S1: Salvage value is the value of the dismantledĀ materials of a property at the end of the utility period, and can be sold as scrap.
S2: Salvage value does not include the cost of removal of property and/or its sale.
Check for the validity of statements as True or False and choose the best answer option.
1
S1 is False and S2 is True
2
S1 is True and S2 is False
3
Both S1 and S2 are True
4
Both S1 and S2 are False