Button Transportation Purchases Many Pieces of Office Furniture with an Individual

question 45

Multiple Choice

Button Transportation purchases many pieces of office furniture with an individual cost below $200 each.Button chooses to account for these expenditures as expenses when acquired rather than reporting them as property, plant, and equipment on its balance sheet.The company's accountant and independent CPA agree that no accounting principle has been violated.What accounting justification allows Button to expense the furniture?

• A)Conservatism
• B)Matching
• C)Materiality
• D)Verifiability

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Definitions:

Synapomorphies

Shared derived characteristics or traits that are used to establish evolutionary relationships among species or groups.

Common Ancestor

The most recent individual from which all organisms in a group are directly descended.

Phylogenetic Systematics

A method of classifying organisms based on their evolutionary relationships, utilizing genetic, morphological, and other data to infer a "family tree" of life.

Dinosaur Genera

Categories in the classification of dinosaurs, where each genus comprises one or more species that are closely related.