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7. (L.O. 4) When an entity charges the entire cost of an electric pencil sharpener to expense in… 1 answer below » 7. (L.O. 4) When an entity charges the entire cost of an electric pencil sharpener to expense in the period when it was purchased even though the appliance has an estimated life of five years, we have an application of the: a. matching principle. b. materiality quality. c. historical cost principle. d. expense recognition principle. Nov 16 2015 12:04 PM
