A trader paid N15,000 on rent for 15 months but charged N12,000 to the Profit...

WAEC 2002

A trader paid N15,000 on rent for 15 months but charged N12,000 to the Profit and Loss account for the year. This is the concept of

A. accrual
B. materiality
C. prudence
D. going-concern

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Correct Answer: Option A

Explanation

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A trader paid N15,000 on rent for 15 months but charged N12,000 to the Profit...

Correct Answer: Option A

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