Which one of the following regarding the book value of an asset is correct?

Which one of the following regarding the book value of an asset is correct?



A) It is the fair value of the asset if the asset is sold.

B) It reflects the original cost of the asset less accumulated depreciation.

C) It is the original cost of the asset minus the depreciation expense for that asset during the year.

D) It is the original cost at which the asset was purchased.


Answer: B


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