The carrying amount of an asset with a residual value that has been in use for three years is:
A)its depreciable amount.
B)cost less residual value.
C)its depreciable amount less accumulated depreciation.
D)cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

The carrying amount of an asset is calculated as the cost of the asset minus the accumulated depreciation.

The Carrying Amount of an Asset with a Residual Value