The total cost of an asset less its accumulated depreciation is called:

A) Historical cost.
B) Book value.
C) Present value.
D) Current (market) value.
E) Replacement cost.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since it was put into use, reducing its book value on the balance sheet.

Historical Cost

The original monetary value of an asset or investment, as recorded on the financial statements at the time of purchase or acquisition.