Accounting for IGCSE & O level - Advanced Principles (Section 7 - No. 39)
Which accounting principle would be most relevant when deciding if a small expense should be recorded or ignored?
Prudence principle
Matching principle
Materiality principle
Consistency principle
คำอธิบาย
The materiality principle dictates that items of small value can be ignored, as it wouldn't make a difference to the financial standing.