What is the term used for the difference between the Equipment account and the Accumulated Depreciation account?
A)contra asset
B)market value
C)historical cost
D)book value

Question

Quizplus · Accepted Answer

The term used for the difference between the Equipment account and the Accumulated Depreciation account is the book value. It represents the net amount that the asset is worth on the balance sheet.

What Is the Term Used for the Difference Between the Equipment