Forest Grove Industries Has Long-Lived Tangible Assets with a Cost

Multiple Choice

Forest Grove Industries has long-lived tangible assets with a cost of $350,000;its Accumulated Depreciation account has a balance of $110,000.Which of the following statements is correct?

A) The carrying value of long-lived assets is $240,000.
B) The market value of long-lived assets is $350,000.
C) The carrying value of long-lived assets is $350,000.
D) The market value of long-lived assets is $460,000.