The carrying amount is defined as:

The carrying amount is defined as:

• A. The amount at which an asset is recognised after deducting any accumulated depreciation or amortisation and accumulated impairment losses
• B. The asset's fair value at the reporting date
• C. The recoverable amount of the asset
• D. The original cost of the asset

Answer: (A)

Carrying amount is the net book value of an asset—the amount at which it is recognised in the balance sheet after taking off accumulated depreciation (or amortisation) and any accumulated impairment losses. This shows how much of the asset’s cost has been consumed or written down to date. It is not the asset’s fair value (that’s the price you’d expect to obtain in an orderly sale), nor the recoverable amount (the higher of value in use and fair value less costs of disposal), and it isn’t simply the original cost. In short, carrying amount = cost minus accumulated depreciation minus accumulated impairment losses.

Carrying amount is the net book value of an asset—the amount at which it is recognised in the balance sheet after taking off accumulated depreciation (or amortisation) and any accumulated impairment losses. This shows how much of the asset’s cost has been consumed or written down to date. It is not the asset’s fair value (that’s the price you’d expect to obtain in an orderly sale), nor the recoverable amount (the higher of value in use and fair value less costs of disposal), and it isn’t simply the original cost. In short, carrying amount = cost minus accumulated depreciation minus accumulated impairment losses.