The carrying amount of an asset is equal to the
A)asset's fair value less its original cost.
B)asset's cost less residual value less accumulated depreciation.
C)asset's cost less residual value.
D)asset's cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

The carrying amount of an asset is calculated as the asset's cost less its accumulated depreciation. This reflects the asset's book value over time as it depreciates.

The Carrying Amount of an Asset Is Equal to the