The book value of a depreciable asset equals its acquisition cost minus the depreciation expense recorded since the acquisition date.

Question

Quizplus · Accepted Answer

The book value of a depreciable asset is the net amount of value that it still holds on a company's balance sheet, and it is calculated by subtracting the accumulated depreciation from the original cost. Therefore, the statement is true.

The Book Value of a Depreciable Asset Equals Its Acquisition