The accounting concept that allows the cost of kitchen cutlery to be expensed, though it…

Accounts - Principles of Accounts JAMB 2015

The accounting concept that allows the cost of kitchen cutlery to be expensed, though it can be used for more than one year is

  • Materiality checkmark
  • Accrual
  • Going concern
  • Business entity

The correct answer is: A

Explanation

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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