Identify the appropriate accounting principle for each description 1 through 4.

1. Callahan’s Castles records expenses incurred to produce revenues in the accounting period.

2. Callahan’s Castles discloses all information about pension expenses that can influence the decision maker.

3. Callahan’s Castles records sales on its toy castles when they are delivered to the customer.

4. Callahan’s Castles records its computer equipment at its acquisition cost.