Accounting · Accounting Principles
Depreciation on items like scissors, pencils, etc., is not charged and they are treated as an expense for the company. This statement relates to which accounting convention?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Convention of conservatism
- 2Convention of materiality✓
- 3Convention of full disclosure
- 4Convention of prudence
Correct answer
Convention of materiality
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