Problem $2)(10$ marks$)$ assumption. Listed below are phrases that state the application of a qualitative characteristic, accounting principle, or Required: For each phrase, state the specific qualitative characteristic, accounting principle, or assumption that would apply from the list given below. Be sure to include the word assumption, principle, or characteristic as part of your answer. The same answer may apply to more than one phrase. Relevance Characteristie Going Concern Assumption Historical Cost Principle Economic Entity Assumption Monetary Unit Assumption Representational Faithfulness Characteristic Matching Principle Revenue Recognition Principle Comparability Characteristic Full Disclosure Principle Periodicity Assumption Understandability Characteristic For example: Presentation of timely information with predictive and feedback value. Relevance Characteristic $1)$ Stable$-$dollar assumption $($do not use historical cost principle$).2)$ Earning process completed and realized or realizable. $3)$ Presentation of error$-$free information. $4)$ Yearly financial reports. $5)$ Accruals and deferrals in adjusting and closing process. $($Do not use going concern assumption.$)6)$ Useful standard measuring unit for business transactions.