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O-LevelAccountingAccounting principles and policies7707/11 · Oct/Nov 2013 · Q301 Mark

Some items have such a low monetary value that it is not worth recording them separately. Which accounting principle is being applied?

Agoing concern
Bhistorical cost
Cmateriality
Dmoney measurement

✓ Correct answer

C: materiality

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About this question

Topic
Accounting principles and policies, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2013 Paper 1 Variant 1, question 30.

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