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

question 67

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.

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Definitions:

Security Guard

A person employed to protect property, assets, or individuals, often through surveillance, patrolling, and enforcing safety protocols.

Public Safety

The protection of citizens from significant danger, injury, damage, or harm, provided by governmental organizations and agencies.

Efficient Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded, leading to an optimal allocation of resources.

Nonrival

A characteristic of a good or service that implies one person's consumption does not reduce its availability to others.