Please ensure that you have filled out the form with your identifying information. The total cost of an asset less its accumulated depreciation is called: A) Historical cost. B) Book value. C) Replacement cost. D) Current market value. 1. 2. The depreciation method that produces larger depreciation expense during the early years of an asset's life and smaller expense in the later years is a(an): A) Accelerated depreciation method B) Book value depreciation method. C) Straight-line depreciation method. D) Units-of-activity depreciation method. 3. A company paid $2,650 to replace a leaky valve on their cutting equipment. The expense should be appropriately recorded as: A) A capital expenditure, and debited to an expense account when recorded. B) A capital expenditure, and debited to an asset account when recorded. C) A revenue expenditure, and debited to an expense account when recorded. D) A revenue expenditure, and debited to an asset account when recorded