Which component would allow a large company to record the purchase of a $120 printer as an expense rather than capitalizing the printer as an asset?

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06-09-2022
Business

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Which component would allow a large company to record the purchase of a $120 printer as an expense rather than capitalizing the printer as an asset?

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tutorconsortium215 tutorconsortium215 · Answer 1 · 2022-09-11T01:36:19-04:00

Materiality is the component which would allow a large company to record the purchase of a $120 printer as an expense.

What is materiality?

According to the accounting principle of materiality, any events that could reasonably be expected to have an influence on investors' decisions must be documented or disclosed in great detail in a company's financial statements prepared in accordance with GAAP (generally accepted accounting principles).

Therefore, the component materiality would allow a large company to record the purchase of a $120 printer as an expense rather than capitalizing the printer as an asset.

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