The difference between the equipment account balance and the accumulated amortization equipment account balance is called which of the following?

Question

Quizplus · Accepted Answer

The difference between the equipment account balance and the accumulated amortization (or depreciation for tangible assets) is referred to as the net book value. This value represents the asset's carrying amount on the balance sheet after accounting for depreciation or amortization.

The Difference Between the Equipment Account Balance and the Accumulated