Which qualitative characteristic or assumption is best represented by the following statement?

All purchases are recorded at the cost incurred.

Question $2$ options:

$1)$

time period

$2)$

understandable

$3)$

faithful

$4)$

separate entity

$5)$

comparable

$6)$

full disclosure

$7)$

historic cost

$8)$

relevant

$9)$

verifiable

$10)$

going concern

$11)$

unit$-$of$-$measure