\begin{tabular}{|l|l|} \hline No & \multicolumn{1}{|c|}{ Questions } \\ \hline 1 & Identifywhichassumption,concept,principleorqualitativecharacteristicbestdescribethefollowing: \\ \hline a.JasonLtdexpensesthecostsofwastepaperbasketsintheyearwhentheyareusedalthoughtheycanbeusedformorethanoneyear. \\ \hline b.Anassetwithacostof$120,000isdepreciatedoveritsusefullifeof10yearsratherthanexpensingtheentireamountwhenitispurchased \\ \hline c.Whentheaccountanthastochoosebetweentwoacceptablealternatives,theaccountantshouldselectthealternativethatwillreportlessprofit,lessassetamount,oragreaterliabilityamount \\ \hline d.Assetsvaluereportedattheendofanaccountingperiodarenotadjustedforchangesinthemarket. \\ \hline \end{tabular}