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

Question

Quizplus · Accepted Answer

The term for the difference between the Equipment account and the Accumulated depreciation account is book value. Book value represents the net amount of an asset that is recorded on the balance sheet, calculated by subtracting the accumulated depreciation from the equipment account.

What Is the Term for the Difference Between the Equipment