Contingent Gains Are Never Disclosed in the Notes to the Financial

question 45

True/False

Contingent gains are never disclosed in the notes to the financial statements, no matter how likely.

---

Definitions:

Euros

The official currency of the Eurozone, which consists of 19 of the 27 European Union member states.

Comprehensive Income

Comprehensive income is the total change in equity for a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including all non-owner changes in equity such as unrealized gains and losses on investments.

Unrealized Gains

Increases in the value of an asset that has not been sold and therefore the profit has not been realized.

Dividends Paid

Cash or stock payments made by a company to its shareholders out of its profits.