Which of the Following Would Not Be a Proper Application

question 75

Multiple Choice

Which of the following would not be a proper application of the concept of materiality by Millridge Corporation?

• A)Transactions involving small dollar amounts are not recorded in Millridge's accounting records.
• B)Estimates of supplies on hand are used to determine the supplies expense for the period.
• C)On a monthly basis,utility bills are expensed in the month paid,rather than in the month in which services are used.
• D)Immaterial items are ignored in making end-of-period adjusting entries.