The book value of an asset is equal to the
A) asset's market value less its historical cost.
B) blue book value relied on by secondary markets.
C) replacement cost of the asset.
D) asset's cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

The book value of an asset is calculated by subtracting the accumulated depreciation from the original cost of the asset. Therefore, the correct choice is D – asset's cost less accumulated depreciation.

The Book Value of an Asset Is Equal to the