Accounting Concepts Quiz Explained

 #Accounting PrinciplesA company with very large turnover as compared to industrial standards has not included small…

Accounting Concepts Quiz – Explained

Suppose, a business has very large scale operations, it would be immaterial to include small amounts of furniture purchases in its books as assets.

According to Materiality principle it would be better to expense out those transactions rather than treating it as fixed assets.

The Correct answer of this Accounting Quiz is Materiality.

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