Which accounting principle justifies treating a calculator as an expense rather than a fixed asset?
A. Dual Aspect
B. Going Concern
C. Materiality
D. Consistency
Answer: Option C
Solution (By JKSSB Mock Tests)
The Materiality principle states that trivial costs (like a calculator) should be expensed immediately rather than capitalized and depreciated, due to their immaterial impact.
Explanation:
Financial management is a specialized branch of general management that deals with the planning, organizing, and controlling of financial activities.
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