Although a stapler that costs $15 is a long-term asset,it can be expensed because the amount is immaterial and will not affect anyone's decision making.

Question

Quizplus · Accepted Answer

According to the materiality principle in accounting, items that are immaterial can be expensed rather than capitalized as long-term assets. In this case, although a stapler may be a long-term asset, its cost of $15 is likely immaterial and can be expensed without affecting decision making.

Although a Stapler That Costs $15 Is a Long-Term Asset,it