STATIONERY WHICH WILL BE USED OVER A LONG PERIOD OF TIME IS USUALLY RECORDED AS AN EXPENSE INSTEAD OF AN ASSET. THIS CONCEPT IS CALLED
A. entity B. accrual C. realization D. materiality ✓ The answer to the question is: D. materiality The concept of recording stationery used over a long period of time as an expense instead of an asset is related to the accounting principle of materiality.…
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