Question

Disclosure of cost of calculator in profit and loss alc and not as an asset deals with concept
money measurement
materiality
cost
accrual​

Answer 1

Answer:

Explanation:

Disclosure of cost of the calculator in profit and loss alc and not as an asset deal with the concept of Materiality.

Answer 2

Disclosure of cost of calculator in profit and loss account and not as an asset deals with concept

money measurement

materiality

cost

accrual​

The correct answer is :

materiality

Explanation :

A small calculator's cost is treated as an expense in a profit and loss account and is not shown as an asset to a business entity's financial statement because of the materiality concept.

The concept of materiality refers to a situation where the financial information of a company is considered important from the point of view of the preparation of the financial statements. A situation that has the potential to change the attitude and opinion of a reasonable person, then such a concept is adopted.

That is why the disclosure of the cost of the calculator in the profit and loss account is related to the concept concept of materiality.

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Know something more :

The value of abnormal loss is debited on the basis of ?

A. Profit and loss account

B. Consignee's account

C. Consignor's account

D. Consignment account

https://brainly.in/question/24539956?msp_srt_exp=6

______ covers accounts of whole business relating to all commercial transactions.

a. financial accounting b. cost accounting

c. environmental accounting d. EVS​

https://brainly.in/question/40126230?msp_srt_exp=4