(Solved): The measurement (cost) principle states that: revenue is recorded when products and services are del ...

The measurement (cost) principle states that: revenue is recorded when products and services are delivered to customers financial statements must reflect the assumption that the business continues operating each business is accounted for separately from its owner(s) accounting information is based on actual costs incurred in the transactions the life of the company can be divided into time periods a company must report details behind financial statements that would impact users' decisions a company must record the expenses incurred to generate the revenues reported