An accountant purchased a photocopier costing $5,000 for business use. The useful life of the photocopier is expected t

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An accountant purchased a photocopier costing $5,000 for
business use. The useful life of the photocopier is expected
to be five years. The accounting firm has an average net
income of $2,000,000 per annum. The accountant did not
capitalize this expenditure as fixed asset. Give comment on this
accounting practice and support your answer with reference to the
most relevant accounting concept.
Please use the most relevant accounting concept
in the below choices with detailed
explanation.
Entity convention, Money measurement concept, Historical
cost convention, Going concern assumption, Consistency concept,
Materiality, Prudence concept