The difference between the cost of a depreciable asset and its related accumulated depreciation is referred to as the
A) market 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 cost of a depreciable asset minus its accumulated depreciation equals the book value of the asset. The book value represents the remaining value of the asset that has not yet been depreciated. The market value refers to the price that the asset could sell for in the current market, while the blue book value is a term specific to the automobile industry and refers to the value of a vehicle as determined by a guidebook. The term "depreciated difference" is not a commonly used accounting term.

The Difference Between the Cost of a Depreciable Asset and Its