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The book value of a long-term asset is the difference between the: a. proceeds received from the sale of the asset and its original cost.

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The book value of a long-term asset is the difference between the: a. proceeds received from the sale of the asset and its original cost. b. cost of the asset and the accumulated depreciation to date. c. cost of the asset and the amount of depreciation expense for the year. d. replacement cost of the asset and its historical cost

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