Which One of the Following Regarding the Book Value of an Asset

question 42

Multiple Choice

Which one of the following regarding the book value of an asset is correct?

• A)It is the fair value of the asset if the asset is sold.
• B)It reflects the original cost of the asset less accumulated depreciation.
• C)It is the original cost of the asset minus the depreciation expense for that asset during the year.
• D)It is the original cost at which the asset was purchased.