Refer to Fernbank Farms. What is the truck's book value at December 31, 2013?
A)$68,000
B)$98,000
C)$80,000
D)$62,000

Question

Quizplus · Accepted Answer

According to the information provided in the Fernbank Farms scenario, the truck's book value at December 31, 2013, was $80,000. This is the amount at which the asset is recorded on the company's balance sheet after taking into account any accumulated depreciation. Therefore, choice C is the correct answer.