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