Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

A calculator is bought for $9.50 and is expected to last for 5 years. The book-keeper chooses to record the calculator purchase as revenue expenditure. Which accounting principle is being used?

  • Aaccruals
  • Bmateriality
  • Cprudence
  • Dsubstance over form

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI