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which one of the following regarding the book value of an asset is correct? 1it is...

which one of the following regarding the book value of an asset is correct?
1it is the fair value of the asset is sold.
2it reflects the original cost of the asst less accumulated depreciatiin
3it is the original cost of the asset minus the depreciation expense for that asset during the year.
4 it is the original cost at which the asset was purchase
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Answer #1

OPTION 2: it reflects the original cost of the asst less accumulated depreciation

EXPLANATION:

formula:

Book value = historical cost- accumulated depreciation

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