The carrying amount of an asset is equal to the
A)asset's fair value less its historical cost.
B)"blue-book" amount relied on by secondary markets.
C)replacement cost of the asset.
D)asset's cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

The carrying amount of an asset is equal to its cost less accumulated depreciation, as it reflects the net amount at which the asset is reported on the balance sheet after accounting for any depreciation or amortization.

The Carrying Amount of an Asset Is Equal to the