The cost of a property, plant, and equipment asset less its accumulated amortization is referred to as historical cost.

Name: The cost of a property, plant, and equipment asset less its accumulated amortization is referred to as historical cost.
Brand: Quizplus
Rating: 4.7 (47 reviews)

Question

Quizplus · Accepted Answer

The cost of a property, plant, and equipment asset less its accumulated depreciation is referred to as its carrying amount or book value, not historical cost. Historical cost refers to the original cost of the asset at the time of purchase or construction.

The Cost of a Property, Plant, and Equipment Asset Less