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

Are you having trouble answering the question “Gain contingencies usually are recognized in a company’s income statement when:”? If that’s the case, you don’t need to worry anymore. Azanswer has brought you the correct answer to your question.

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

A) The gain is certain.

B) The amount is reasonably estimable.

C) The gain is reasonably possible and the amount is reasonably estimable.

D) The gain is probable and the amount is reasonably estimable.

Answer: A

We hope you have got the correct answer to your question “Gain contingencies usually are recognized in a company’s income statement when:”, which was part of Accounting MCQs & Answers. Thanks for choosing us.