Book value is also referred to as
A) accumulated depreciation.
B) carrying value.
C) fair value.
D) original cost.

Question

Quizplus · Accepted Answer

Book value is also referred to as carrying value, which is the value of an asset as reported in a company's balance sheet after deducting accumulated depreciation or amortization and any impairment losses. It is the amount that a company would receive if it were to sell the asset at its current market value less any selling costs. Book value is different from fair value, which is the price that a willing buyer would pay to a willing seller for an asset in an open market transaction. Original cost is the cost at which an asset was initially acquired or purchased.

Book Value Is Also Referred to as