In a fixed asset ledger, the net book value of a fixed asset would be a calculated field equal to the original cost less __________.
A) beginning depreciation
B) accumulated depreciation
C) ending depreciation
D) current period depreciation

Question

Quizplus · Accepted Answer

The net book value of a fixed asset is calculated as the original cost minus the accumulated depreciation, which represents the total amount of depreciation expense that has been recorded against the asset over its life up to the date of the calculation.

In a Fixed Asset Ledger, the Net Book Value of a Fixed