The book value of an asset is computed as the asset's:
A) current market value less tax expense.
B) fair value less residual value.
C) discounted value plus accumulated depreciation.
D) cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

The book value of an asset is the cost of the asset less any accumulated depreciation. This represents the amount that the asset is worth on the company's books, rather than its current market value or fair value.

The Book Value of an Asset Is Computed as the Asset's