Question: 4. What is the relationship between net book value and the salvage value of an asset? 5. How does depreciation impact the net book value

4. What is the relationship between net book value and the salvage value of an asset? 5. How does depreciation impact the net book value of an asset over time? 6. How is net book value used in determining the gain or loss on the disposal of an asset? 7. What happens to the net book value of an asset when it is impaired or considered obsolete? 8. What is the difference between the gross book value and the net book value of an asset? 9. How is net book value different from market value or fair value? 10. How does the concept of net book value apply to intangible assets? 11. What is the role of net book value in determining a company's overall financial position? 12. How does net book value impact a company's tax liability? 13. How do international accounting standards handle the concept of net book value? 14. What are some common challenges associated with determining net book value in practice?

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