Sorry i didn't understand the first question. What do you mean by measuring stuff?
I'm not using any kind of multimeter or generator, since this is a school project, and i don't have access to school generators and multimeters and i don't have any of my own, because of the covid situation, i need the measurements to be fully dependent on arduino, because later, i intend to send them to a web server by esp8266. So, can i somehow generate AC signal with arduino?
Though i think i understand your point about measuring voltage and current measurement. I basically need to use two analogRead() functions to read input pins connected to the object i am measuring and at the same time, connect the measured object to ground on arduino. and then convert the integer number i got from analogRead() into a value resembling current or voltage? Did i get that right?
Unfortunately, i cannot measure these components one at the time, because they have to be physically connected in the circuit in the same way all the time.