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

question 55

Multiple Choice

Gain contingencies usually are recognized in a company's income statement when:

• A) Realized.
• 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.

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Definitions:

Parametric Test

A statistical test that makes assumptions about the parameters of the population distribution from which the sample was drawn.

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to assess whether their population mean ranks differ.

Wilcoxon Rank-sum Test

A nonparametric statistical test used to compare two independent samples to determine if they come from the same population or not, based on rank sums.

Wilcoxon Rank Sum Test

A non-parametric statistical test used to compare two independent samples to assess whether their populations have identical distribution.