Small items like, pencils, pens, files etc. are written off within a year according to ______ concept.
چھوٹی اشیاء جیسے پنسل، قلم، فائل وغیرہ ایک سال کے اندر ______ تصور کے مطابق لکھی جاتی ہیں۔
Answer: Materiality
Explanation
Small items like pencils and pens are written off within a year according to the materiality concept.
This concept allows minor expenses to be immediately recorded rather than capitalized, as their impact on financial statements is negligible.
This question appeared in
Past Papers (2 times)
Account Officer Past Papers, Syllabus, Jobs (1 times)
SPSC Past Papers (1 times)
This question appeared in
Subjects (1 times)
ACCOUNTING (1 times)
Related MCQs
- Price of 2 pens and 3 pencils is 86, the price of 4 pens and 1 pencil is 112. Find the price of a pen?
- Hyder has a bag with 3 CDs, 4 pencils, 7 books and 1 mango. What is the ratio of CDs to total number of items in the bag?
- In the first 3 days of class, Yasir lost 2 pencils. If he keeps losing pencils at the same rate for 60 days of class, how many pencils
- After Ali gave 110 pencils to Afzal and 75 to Amjad, he still had 315 left. What percent of his pencils did Ali give away?
- A program that combines different library files to object files to generate executable file is called ______?
- A collection of three colored pencils must be selected of six color pencils Blue, Brown, Green, Pink, Red, and Yellow.
- Each of the five persons A, B, C, D and E possesses unequal number (<10) of similar items. A. B and C possess 21 items in all while C, D and E posses 7 items in all. How many items do A and B possess in all?
- If all red pens are blue and all blue pens are green, then all red pens are _____?
- Small files that are deposed on user's hard drive when they visit a website are best described as
- A ball pen factory decided to reduce its production by 10% over that of previous month for next 3 months starting from February 2014. In January 1994, it produced 3000 ball pens. How many ball pens were produced in March 2014?
