Generally,actual cash value is defined as
A)replacement cost.
B)original purchase price.
C)market value.
D)purchase cost minus depreciation.
E)replacement cost minus depreciation.

Question

Quizplus · Accepted Answer

Actual cash value is the amount that an item is worth at the present time, taking into account its original cost minus any depreciation. Therefore, the best choice is E – replacement cost minus depreciation.

Generally,actual Cash Value Is Defined as