When original cost is used in the accounting records, the book value of the asset is:

A) the original cost.
B) the market value.
C) original cost less accumulated depreciation.
D) closed out.

Original Cost

The initial price paid to acquire an asset or service, not accounting for depreciation or adjustments.

Book Value

The residual amount that represents a company's assets minus its liabilities.

Accumulated Depreciation

The aggregate depreciation recorded on a fixed asset since its commencement of use.