Accounting JAMB

Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.  This concept is called?
Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.  This concept is called?Stationary which will be used over a long period of time is usually recorded as an expense instead of an asset.  This concept is called?

A. entity
B. materiality
C. realization
D. accrual

Correct Answer:

Option B – materiality

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