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Discuss materiality and give example that applies to yourself on how you asses if the thing is material to ​

Sagot :

Answer:

ANSWER::

A classic example of the materiality concept is a company expensing a $ 20 wastebasket in the year it is acquired instead of depreciating it over its useful life of 10 years. The matching principle directs you to record the wastebasket as an asset and then report depreciation expense of $ 2 a year for 10 years.

Step-by-step explanation:

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