The original value of an asset minus the accumulated depreciation at a given date is known as
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Book value
The book value of an asset on any date is the value shown in the books on that date:
\(\text{Book value} = \text{Original cost} - \text{Accumulated depreciation}\)
It changes every year as depreciation accumulates.
Why the other options are incorrect
Option (1) Salvage value — Incorrect. This is the estimated value of the asset at the end of its useful life, a single value fixed in advance, not the value at any given date.
Option (3) Scrap value — Incorrect. This too is the value of the asset at the end of its useful life, when it is sold as scrap.
Option (4) Lost Value — Incorrect. This is not a term used for depreciation of assets.
CBSE Applied Mathematics (Class XII):
Depreciation
