The expired cost of a depreciable asset is referred to as:
A) residual value.
B) carrying value.
C) accumulated depreciation.
D) depreciable cost.

Question

Quizplus · Accepted Answer

The expired cost of a depreciable asset is commonly referred to as accumulated depreciation. It represents the total amount of depreciation recorded on an asset over its useful life. The residual value of an asset refers to its expected value at the end of its useful life, while the carrying value is the asset's original cost minus its accumulated depreciation. Depreciable cost is the total cost of an asset that is eligible for depreciation.

The Expired Cost of a Depreciable Asset Is Referred to As