The amount value of an asset in business records is not necessarily identical to the amount that the asset could bring on the open market. What is it called ?
Correct answer: B. Book value
- A. Open value
- B. Book value
- C. Real value
- D. Artificial value
Explanation
Book value is the amount at which an asset is recorded in a firm's accounting records, usually after depreciation. It can differ substantially from the asset's current market or selling value.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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