Multiple Choice
An accountant charged the Repairs Expense account for a tool that cost $12. The tool had an estimated useful life of 5 years; however, the accountant chose not to depreciate it. The modifying constraint that the accountant followed was
A) industry practice.
B) materiality.
C) conservatism.
D) objectivity.
Correct Answer:
Verified
Correct Answer:
Verified
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