Although a stapler that costs $10 is a long-term asset, can be expensed because the amount is immaterial and will not affect anyone's decision making.

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According to accounting principles, assets with a useful life of more than one year should be classified as long-term assets and capitalized. However, if the amount is immaterial (i.e., not significant), the item may be expensed (i.e., treated as an expense rather than an asset) because it would not impact anyone's decision-making or cause a material misstatement in the financial statements. Thus, in this scenario, the stapler can be expensed even though it is a long-term asset.

Although a Stapler That Costs $10 Is a Long-Term Asset