When derecognising a non-current asset, what type of account is the carrying amount of the asset? Contra-asset Expense Liability Asset

The carrying amount of the asset is an Asset account.

Here's why:

1. The carrying amount of an asset is the original cost of the asset minus any accumulated depreciation, accumulated depletion, accumulated amortization, and accumulated impairment.

2. The carrying amount is also often called the carrying value or the "book value".

3. This value is reported on the company's balance sheet and it falls under the category of an asset account.

4. When an asset is derecognized, it means it is removed from the balance sheet because it has been disposed of or sold. The carrying amount of the asset is removed from the asset account on the balance sheet.

5. Therefore, the carrying amount of the asset is an Asset account.