Identify the correct principle for each of the following activities using the drop-down list.

Identify the correct principle for each of the following activities using the drop-down list. Items Activities Item #1 Item #2 Principle A company records the expenses incurred to generate the revenue reported. Revenue is recognized when goods are provided to the customer at the amount expected to be received. A company reports the details behind financial statements that would impact user's decisions. Accounting information is based on actual cost. Item #3 Item #4 Expense recognition principle Full-disclosure principle Measurement principle Revenue recognition principle