Quiz 13.87 – Accounting Treatment of Gain Contingencies

Intermediate Accounting

Spiceland, Nelson, and Thomas

10th Edition

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What is the appropriate accounting treatment when a material gain contingency is probable and the amount of gain can be reasonably estimated?

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  • Search Terms: b) c) d) a against amount and be be: a) but can contingency disclosed disclosed. equity. estimated, gain in income is material neither nor not of offset probable reasonably recognized reported shareholders' should statement statement. the when
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