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Discuss what accounting justification allows king to expense

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King Transportation purchases many pieces of office furniture with an individual cost below $200 each. King 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 King to expense the furniture?

Reference no: EM131818992

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