Carrying value
A)equals cost minus accumulated depreciation.
B)equals cost minus residual value.
C)is the expired cost of an asset.
D)is the same as residual value.

Question

Quizplus · Accepted Answer

Carrying value is the value of an asset reported on a company's balance sheet and it is calculated as the asset's cost minus accumulated depreciation. Therefore, option A is the correct answer. Option B is incorrect as residual value is subtracted from cost to determine depreciation expense, not the carrying value. Option C is incorrect as expired cost is another term used for depreciation. Option D is incorrect as residual value is the estimated value of an asset at the end of its useful life, not the same as carrying value.

Carrying Value