The difference between the cost of office equipment and accumulated depreciation-office equipment is called:
A)market value.
B)salvage value.
C)book value.
D)original value.

Question

Quizplus · Accepted Answer

The difference between the cost of office equipment and accumulated depreciation-office equipment is called book value. Book value is the value at which an asset is carried on a balance sheet after deducting any accumulated depreciation or impairment. It represents the net investment in the asset by the company. Market value refers to the price at which an asset can be sold in the market. Salvage value refers to the estimated value of an asset at the end of its useful life. Original value is the cost of an asset when it was first acquired.

The Difference Between the Cost of Office Equipment and Accumulated