The total cost of an asset less its accumulated depreciation is called: Book value. Historical cost. Current (market) value. Present value. Replacement cost.

The correct answer is:<br /><br />**Book value.**<br /><br />### Explanation:<br />- **Book value** refers to the total cost of an asset as recorded on the company's books (its historical cost) minus its accumulated depreciation, amortization, or impairment costs. It represents the net value of the asset on the balance sheet.<br /> <br />- **Historical cost** is the original purchase price of the asset without considering depreciation.<br /><br />- **Current (market) value** refers to the price at which the asset could be sold in the market today.<br /><br />- **Present value** is the current worth of future cash flows associated with the asset, discounted at an appropriate rate.<br /><br />- **Replacement cost** is the cost to replace the asset at current prices.<br /><br />Thus, the term that matches "total cost of an asset less its accumulated depreciation" is **book value**.