Question

In the accounting records, the fixed assets are normally recorded​

Answer 1

Answer:

cost price

Explanation:

generally recorded as cost price less depreciation

Answer 2

BOOK VALUE OF ASSETS

In the accounting records, the fixed assets are normally recorded at book value.

GETTING TO KNOW MORE ABOUT BOOK VALUE OF ASSETS:

* The book value of an asset is the worth of an item after depreciation has been taken into account. The amount is utilised for tax considerations rather than deciding how much someone may charge for a product transaction.

* The book value of an asset is the worth of that item as recorded in a company's "books" (accounting books and balance sheet). The net book value is another name for it.

*  This computation may be used by businesses to assess how much depreciation charges they can deduct from their taxes. Because book value is purely an accounting and tax calculation, it may not necessarily correspond to an asset's fair market value.