The difference between the balance of a plant asset account and the related accumulated depreciation account is termed:
A)market value.
B)contra asset.
C)book value.
D)liability.

Name: The difference between the balance of a plant asset account and the related accumulated depreciation account is termed: A)market value. B)contra asset. C)book value. D)liability.
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Question

Quizplus · Accepted Answer

The book value of a plant asset is calculated by subtracting the accumulated depreciation from the asset's original cost.

The Difference Between the Balance of a Plant Asset Account