Final answer:
The statement is false; the carrying amount of a long-lived asset is calculated as the original cost minus accumulated depreciation, and does not typically include the anticipated residual value which is considered at the end of the asset's life.
Step-by-step explanation:
The statement that the carrying amount of a long-lived asset is the amount originally paid for the asset less anticipated residual value is false. Instead, the carrying amount, or book value, is the original cost of the asset minus the accumulated depreciation, not taking into account the residual value. Accumulated depreciation represents the asset's cost that has been allocated as an expense over the asset's useful life.
Residual value, on the other hand, is the estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. When calculating carrying amount, residual value is not typically subtracted from the original cost until the end of the asset's useful life when realizing the salvage value if it's sold or disposed of.