Accounting for IGCSE & O level - Accounting Procedures (Section 5 - No. 25)
What does 'net book value' represent?
The original cost of an asset.
The current market value of an asset.
The cost of an asset less accumulated depreciation.
The total amount of depreciation expense over the asset's life.
Explanation
Net book value is calculated by subtracting accumulated depreciation from the asset's original cost.
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