Gain contingencies usually are recognized in a company's income statement when:
A)The gain is certain.
B)The amount can be reasonably estimated.
C)The gain is reasonably possible and the amount can be reasonable estimated.
D)The gain is probable and the amount can be reasonably estimated.

Question

Quizplus · Accepted Answer

The Answer of Gain contingencies usually are recognized in a company's income statement when:
A)The gain is certain.
B)The amount can be reasonably estimated.
C)The gain is reasonably possible and the amount can be reasonable estimated.
D)The gain is probable and the amount can be reasonably estimated.

Gain Contingencies Usually Are Recognized in a Company's Income Statement