Literal question
At the end of fiscal year 2007, what was the net book value, that is the value of assets after depreciation, of the following:
Land and buildings
Interviewer instructions
Net book value equals the purchase value minus depreciation.
The net book value represents the actual cost of assets at the time they were acquired, including all costs incurred in making the assets usable (such as transportation and installation) minus depreciation accumulated since the date of purchase. Included in the assets are all buildings, structures, machinery, and equipment (production, office, and transportation equipment) for which depreciation reserves are maintained. Accordingly, the value of assets at the end of the year includes the value of construction in progress.
