The book value of a plant asset is
a. the fair market value of the asset at a balance sheet date
b. the asset's acquisition cost less the total related depreciation recorded to date
c. equal to the balance of the related accumulated depreciation account
d. the assessed value of the asset for property tax purposes
Ans: b. the asset's acquisition cost less the total related depreciation recorded to date
You might also like to view...
Professional athletes such as basketball players in the NBA are tested for many drugs pursuant to their union contract. They are tested for performance-enhancing drugs as well as "recreational" drugs such as marijuana and cocaine. Why would the union contract permit testing for these "recreational" drugs when they do not enhance performance?
A. Public relations. B. It is required by the Americans With Disabilities Act. C. "Recreational" drugs can be fatal. D. Kevin Durant is the best player in the NBA.
Which of the following designations is granted by the Occupational Safety and Health Administration to companies that have created particularly safe workplaces?
A) "Best" work sites B) "Star" work sites C) "Top" work sites D) "Ace" work sites