The total cost of an asset less its accumulated depreciation is called:
A)Historical cost.
B)Book value.
C)Present value.
D)Current (market)value.
E)Replacement cost.

Question

Quizplus · Accepted Answer

Book value is the remaining value of the asset after taking its accumulated depreciation. It is also known as carrying value or net book value. Historical cost is the original cost of the asset when it was purchased. Present value is the current value of the asset at a specific point in time. Current (market) value is the value of the asset in the market. Replacement cost is the cost required to replace the asset at its current value.

The Total Cost of an Asset Less Its Accumulated Depreciation