Concept:The materiality convention allows insignificant or immaterial expenditures to be ignored in financial accounting.Explanation:This is the accounting convention under which only items that have a material impact on the financial position or results are recorded.Items with insignificant or negligible effect are not taken into account.It gives relative importance to an item or event based on its effect on the user’s decision.Therefore, the principle described in the question is the materiality convention.Answer:B. materiality convention