The following information pertains to Wolfe Company

-The original cost of an asset less any accumulated depreciated is referred to as
A) net book value.
B) a net asset.
C) gross book value.
D) current cost.

Question

The following information pertains to Wolfe Company
 
-The original cost of an asset less any accumulated depreciated is referred to as
A) net book value. 
B) a net asset. 
C) gross book value. 
D) current cost.

Quizplus · Accepted Answer

The net book value is calculated by subtracting the accumulated depreciation from the asset's original cost. This value represents the current value of the asset on the company's balance sheet.

The Following Information Pertains to Wolfe Company