Question

The cost of stationary is accounted as an expense and not shown as an asset in financial statement. Name the concept.

Answer 1

Explanation:

If you are using stationary in your daily business, then you have a stock of ut, so until it's usep up, it's and asset (prepared stationary) . Once it's used up, it becomes an expense. Since stationary is usually a small amount, it's expenses right away so not to comolicate the prepaid asset accounting