Question

Long-lived assets, such as equipment, are reported at their ______ value in the balance sheet.

Answer 1

Long-lived assets, such as equipment, are reported at their Book value on the balance sheet.

This is further explained below.

What is  Book value?

Generally, Long-lived assets, also known as non-current assets or long-term assets, are assets that are held with the expectation that they will provide economic advantages at some point in the future, often over a period of time that is longer than a year.

Long-lived assets might come in the form of material items, intangible ones, or even financial ones.

The worth of an asset as determined by the account balance on the balance sheet is referred to as book value.

When determining the value of an asset, start with the asset's initial purchase price and subtract any depreciation, amortization, or impairment expenses that have been applied to the asset.

In conclusion, On the balance sheet, the Book value of long-lived assets such as machinery and other types of equipment is disclosed.

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