Accounting for IGCSE & O level - Accounting Procedures (Section 19 - No. 38)
What does the term 'book value' represent in the context of a non-current asset?
The original cost of the asset.
The current market value of the asset.
The asset's original cost less accumulated depreciation.
The amount the asset is insured for.
Explanation
Book value is the remaining depreciated value.
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