The phrase 'net book value' when applied to fixed assets means that _______?

فکسڈ اثاثوں پر لاگو ہونے پر 'نیٹ کتاب کی قیمت' کے فقرے کا مطلب ہے کہ _______؟

The assets are shown in the balance sheet at their original cost

The assets are shown in the balance sheet at their cost less accumulated depreciation

The assets have been depreciated using the reducing balance method

None of these

Net book value (NBV) represents the asset's original cost minus any depreciation or impairment.

It reflects the asset’s current accounting value, not its market value or replacement cost.