The book value of an asset is equal to its depreciable value minus the accumulated depreciation.

Question

Quizplus · Accepted Answer

This is a correct definition of the book value of an asset. The depreciable value is the total cost of the asset minus any salvage value, and accumulated depreciation is the total depreciation expense recorded over the life of the asset. The book value represents the remaining value of the asset on the company's balance sheet.

The Book Value of an Asset Is Equal to Its