Which of the following accounting principles require that all goods and services purchased be recorded at actual cost?

A) Going-concern assumption.
B) Expense recognition (Matching) principle.
C) Measurement (Cost) principle.
D) Business entity assumption.
E) Consideration assumption.

Measurement (Cost) Principle

A principle that states accounting information is based on actual cost incurred in transactions, which includes the initial purchase price plus any additional costs necessary to get the asset ready for use.

Accounting Principles

Fundamental concepts or guidelines that govern the field of accounting, such as consistency, relevance, reliability, and comparability.

Actual Cost

The direct costs incurred in the production of goods, including labor and materials.