The term "net book value" in the fixed asset ledger is considered to be useful to the preparer and the user because it __________.
A) tells the accountant the amount the asset could be sold at today
B) tells the accountant how much was originally paid for the fixed asset
C) tells the accountant the depreciation period the assets will be depreciated over
D) tells the accountant the remaining value of the fixed asset less total depreciation to date

Question

Quizplus · Accepted Answer

Net book value is calculated as the original cost of an asset minus accumulated depreciation, providing the remaining value of the asset on the books.

The Term "Net Book Value" in the Fixed Asset Ledger