Book value on a depreciable asset is defined as ________.
A) residual value less cost
B) residual value less accumulated depreciation
C) cost less accumulated depreciation
D) residual value

Question

Quizplus · Accepted Answer

Book value on a depreciable asset is the cost of the asset less the accumulated depreciation. Therefore, the correct answer is option C, cost less accumulated depreciation.

Book Value on a Depreciable Asset Is Defined as ________