Question

What do you understand when one refers to as "net book value" of a non current asset?

• A. The cost of the asset less amount expensed as depreciation in the current period
• B. The current worth of the asset
• C. The cost of the asset
• D. The cost less accumulated depreciation up to the date of reporting

Answer 1

The correct option is D

The cost less accumulated depreciation up to the date of reporting

Net book value of the asset refers to the cost less accumulated depreciation up to the date of reporting.