The unexpired cost of a plant asset is referred to as its
A) depreciable cost.
B) carrying value.
C) fair value.
D) impairment value.

Question

Quizplus · Accepted Answer

The carrying value of a plant asset is its unexpired cost, which is the original cost of the asset minus any accumulated depreciation. Therefore, option B is the correct choice. Option A (depreciable cost) refers to the cost of an asset that can be depreciated, but it doesn't take into account any depreciation already taken. Option C (fair value) refers to the price at which an asset could be sold in a transaction between willing parties. Option D (impairment value) refers to the value at which an asset is recognized in the financial statements when its carrying value is no longer recoverable.

The Unexpired Cost of a Plant Asset Is Referred to as Its