Which accounting conventions are related to the following actions?
i) Closing stock is valued at lower of the cost or realizable value.
ii) Some stationary items purchased in a year and used for a number of years are treated as an expense and not as an
asset.

A

1 - Prudence; ii - Consistency

B

1 - Materiality; ii - Prudence

C

1 - Full disclosure; ii - Materiality

D

1 - Prudence; ii - Materiality