The book value of equipment is equal to which of the following?
A)Cost of equipment plus the related accumulated depreciation.
B)Accumulated depreciation less the related depreciation expense.
C)Cost of equipment less the related accumulated depreciation.
D)Accumulated depreciation plus the related depreciation expense.

Question

Quizplus · Accepted Answer

Carrying value is the amount at which an asset or liability is reported ("carried")in the financial statements.It is also known as "net book value" or simply "book value." As such,the book value of equipment equals its cost minus the related accumulated depreciation.

The Book Value of Equipment Is Equal to Which of the Following