Book value is defined as
A)cost less salvage value.
B)current market value less accumulated depreciation.
C)cost less accumulated depreciation.
D)cost plus accumulated depreciation.
E)cost plus salvage value.

Question

Quizplus · Accepted Answer

Book value is the cost of an asset less the accumulated depreciation. This represents the net value of the asset on the company's balance sheet. So, the correct choice is C which states cost less accumulated depreciation.

Book Value Is Defined as