1 4. State the qualitative characteristic accounting assumption, principle or constraint that is most applicable in the following cases. All payments less than $25 are expensed as incurred. 2 The company employs the same inventory valuation Comparability quality method from period to period. Expense recognition principle or going concern assumption 3, Apatent is capitalized and amortized over the periods Monetary unit assumption benefited. Periodicity assumption Assuming that dollars today will buy as much as ten Materiality quality Economic entity assumption years ago Full disclosure principle 5. Rent paid in advance is recorded as prepaid rent. 6. Financial statements are prepared each year. 7 All significant post balance sheet events are reported. Full disclosure principle Personal transactions of the proprietor are Economic entity assumption distinguished from business transactions. 8