The difference between the cost of a depreciable asset and its related accumulated depreciation is referred to as the
A) fair value of the asset.
B) blue book value of the asset.
C) book value of the asset.
D) depreciated difference of the asset.

Question

Quizplus · Accepted Answer

The difference between the cost of a depreciable asset and its related accumulated depreciation is the book value of the asset. This is the value that remains on the company's balance sheet and represents the remaining value of the asset that has not yet been depreciated. The fair value and blue book value may be different from the book value, as they may take into account other factors such as market conditions, supply and demand, and other economic factors. The depreciated difference of the asset is not a commonly used term in accounting.

The Difference Between the Cost of a Depreciable Asset and Its