A trader paid N15,000 on rent for 15 months but charged N12,000 to the profit and loss Account for the year. This is the concept of? By: Sunday|Published on: Jun 5|Categories: Accounting WAEC| 0 comments A. accrual B. materiality C. prudence D. going-concern Correct Answer: Option B B. materiality Users Also Read These:Interest on drawings is 5%, interest on capital is…The provision for doubtful debts to be charged to…Musa merchants Trading and profit and Loss Account…What amount is to be credited to the profit and loss…Rent owing as at 31st December 1998, N800. Rent paid…SEE ALSO The gross loss on manufacturing is always transferred to the?