The accounting concept that allows the cost of ... - JAMB Accounting 2015 Question
The accounting concept that allows the cost of kitchen cutlery to be expensed, though it can be used for more than one year is
A
Materiality
B
Accrual
C
Going concern
D
Business entity
correct option: a
Materiality states that only items of material values are recorded e.g. the cost of a stapler should not be capitalized but expensed just as kitchen cutlery.
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