What is the term for the difference between the Equipment account and the Accumulated depreciation account?
A)Market value
B)Carrying value
C)Contra asset
D)Historical cost

Question

Quizplus · Accepted Answer

The carrying value (or book value) is the net amount at which an asset is reported on the balance sheet, calculated as the original cost of the asset minus accumulated depreciation.

What Is the Term for the Difference Between the Equipment