A Gain Contingency Can Be Accrued When

question 128

Multiple Choice

A gain contingency can be accrued when:

• A) it is certain that a dispute will be settled in the company's favour.
• B) it is probable that a future asset will be accrued by the company.
• C) the amount of the gain can be reasonably estimated, and it is likely that a company will have a future claim to an asset.
• D) Gain contingencies are not accrued.

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