

McqMate
Q. |
An ink-stand has been purchased by a firm for a nominal amount that is to last for 4 year. It should not be classified as a fixed asset under which of the following accounting principles: |
A. | Dual Aspect Principle |
B. | Materiality Principle |
C. | Timeliness Principle |
D. | Consistency Principle |
Answer» B. Materiality Principle |
View all MCQs in
Financial AccountingNo comments yet