alue Book Value: value of an asset as shown on a firm's balance sheet: historical cost Liquidation value: amount that could be received if an asset were sold individually Market value: observed value of an asset in the marketplace; determined by supply and demand Intrinsic value: economic or fair value of an asset; the present value of the asset's expected future cash flowsValue • Book Value: value of an asset as shown on a firm’s balance sheet; historical cost. • Liquidation value: amount that could be received if an asset were sold individually. • Market value: observed value of an asset in the marketplace; determined by supply and demand. • Intrinsic value: economic or fair value of an asset; the present value of the asset’s expected future cash flows