Following are the qualitative characteristics and foundation principles.Below these are situations. For each situation indicate the characteristic or principle that has been violated.

Qualitative Characteristics	Foundational Principles
Relevance (Feedback & Predictive)	Economic entity
Representational Faithfulness: complete, neutral, free from bias	Control
Comparability (consistency)	Revenue recognition and realization
Verifiability	Matching
Timeliness	Periodicity
Understandability	Monetary Unit
	Going Concern
	Historical Cost
	Fair Value
	Full Disclosure

The company recognized revenue when the company placed the order. Delivery of the goods were scheduled two weeks later.
Management left out expenses in order to have a higher net income.
The company decided to omit many of the notes to the financial statements.
Company financial statements were not released until one year after the year-end (do not use timeliness).
The president paid his first and last month's rent for his personal apartment, charging Rent Expense.