Concept:The materiality principle states that only significant items that can influence decisions must be recorded, while trivial or insignificant items may be ignored.
Explanation:Trivial items are small amounts whose omission or simplified treatment would not change the judgement of a user of financial statements.
When applying materiality, accountants exclude immaterial details to save time and keep records clear.
For example, a tiny expense like a short-priced pen may be treated as an outright cost instead of being tracked as an asset.
The going concern principle assumes the business will continue operating.
The money measurement concept records only transactions that can be expressed in monetary terms.
Consistency means using the same accounting methods each period.
None of these other options deals with excluding trivial items.
Therefore, the concept that permits the exclusion of trivial items is materiality.
Answer:C. materiality