Book value is defined as the ________.
A) sum of the original cost of an asset and the accumulated depreciation
B) difference between the market value of an asset and the accumulated depreciation
C) difference between the original cost of an asset and the accumulated depreciation
D) sum of the market value of an asset and the accumulated depreciation

Question

Quizplus · Accepted Answer

Book value is calculated as the original cost of an asset minus its accumulated depreciation, representing the asset's net value on the balance sheet. Therefore, the correct statement of book value is: the difference between the original cost of an asset and the accumulated depreciation.

Book Value Is Defined as the ________