When subtracting an asset's accumulated depreciation from its historic cost,the resulting value is termed the:
A) book value of the asset.
B) market value of the asset.
C) depreciation expense.
D) current asset value.

Question

Quizplus · Accepted Answer

The resulting value when subtracting accumulated depreciation from historic cost is the book value of the asset. This represents the remaining value of the asset that has not yet been depreciated. It is not the market value of the asset, depreciation expense, or current asset value.

When Subtracting an Asset's Accumulated Depreciation from Its Historic Cost,the