The book value of a plant asset is the difference between the

A) replacement cost of the asset and its historical cost.
B) cost of the asset and the amount of depreciation expense for the year.
C) cost of the asset and the accumulated depreciation to date.
D) proceeds received from the sale of the asset and its original cost.

Book Value

The net value of an asset reported on the balance sheet, calculated as the asset's cost minus accumulated depreciation.

Plant Asset

Long-term tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.

Accumulated Depreciation

The total amount of an asset's cost that has been expensed since the asset was acquired and put into use.