Business, 18.03.2020 02:37 manco6

When a material gain contingency is probable and the amount of gain can be reasonably estimated, the gain should be :
A. Offset against shareholders' equity.
B. Disclosed but not recognized in the income statement.
C. Reported in the income statement and disclosed.
D. Neither recognized in the income statement nor disclosed.

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When a material gain contingency is probable and the amount of gain can be reasonably estimated, the...

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