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 A A. accrual Users Also Read These:A trader paid N15,000 on rent for 15 months but…How much is to be charged to profit and loss account…What amount is to be credited to the profit and loss…Determine how much to be charged to profit and loss account?Interest on drawings is 5%, interest on capital is…SEE ALSO Using FIFO method; what would be the value of stock as at 9/5/07?