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 insurance premium of N45,000 for 15…Rent owing as at 31st December 1998, N800. Rent paid…A trader paid N15,000 on rent for 15 months but…Determine how much to be charged to profit and loss account?Debtors value as at 1st January 2000 was N40,000.…SEE ALSO The account that shows both the cash and bank transactions of an enterprise is?