On the balance sheet, net fixed assets represent ________.
A) gross fixed assets at cost minus depreciation expense
B) gross fixed assets at market value minus depreciation expense
C) gross fixed assets at cost minus accumulated depreciation
D) gross fixed assets at market value minus accumulated deprecation

Question

Quizplus · Accepted Answer

Net fixed assets represent the value of fixed assets after subtracting the accumulated depreciation from their original cost. Therefore, choice C is the correct answer. Choice A is incorrect because it doesn't subtract accumulated depreciation. Choice B is incorrect because it doesn't consider the original cost of the assets. Choice D is incorrect because market value is not usually used in accounting and reporting; cost is the standard measurement for fixed assets.

On the Balance Sheet, Net Fixed Assets Represent ________