The replacement value of the house less accumulated depreciation (which is the decline in value over time due to wear and tear)is known as
A)actual cash value.
B)replacement value.
C)market value.
D)depreciation.
E)none of the above.

Question

Quizplus · Accepted Answer

Actual cash value is calculated as the replacement cost of an item minus depreciation, representing the current value of the item considering its age and condition.

The Replacement Value of the House Less Accumulated Depreciation (Which