An asset's book value minus its accumulated depreciation is equal to its historical cost.

Name: An asset's book value minus its accumulated depreciation is equal to its historical cost.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

An asset's book value minus its accumulated depreciation is equal to its net book value, not its historical cost. Historical cost is the original cost of the asset, while net book value is the asset's current value on the books after depreciation.

An Asset's Book Value Minus Its Accumulated Depreciation Is Equal