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
jamb 2015accounting

The correct answer is A. Materiality

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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