Book value is defined as
A)current market value less residual value.
B)cost less residual value.
C)current market value less accumulated depreciation.
D)cost less accumulated depreciation.

Question

Quizplus · Accepted Answer

Book value is defined as the difference between the cost of an asset and its accumulated depreciation. Therefore, the correct option is D, which states that book value is equal to cost less accumulated depreciation.

Book Value Is Defined as