A Gain Contingency Can Be Accrued When

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.