A gain contingency will usually not be recorded in the accounts and reported in the financial statements even though its occurrence is probable.

Name: A gain contingency will usually not be recorded in the accounts and reported in the financial statements even though its occurrence is probable.
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The Answer of A gain contingency will usually not be recorded in the accounts and reported in the financial statements even though its occurrence is probable.

A Gain Contingency Will Usually Not Be Recorded in the Accounts