Gains are recorded if reasonably certain, whereas losses are recorded even if reasonably probable. Explain the statement

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‘Gains are recorded if reasonably certain, whereas losses are recorded even if reasonably probable’. Explain the statement and identity the accounting principle.

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Financial Accounting For Managers

ISBN: 9789352868339

3rd Edition

Authors: Sanjay Dhamija

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Question Posted: Dec 05, 2023 03:06 AM

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Gains are recorded if reasonably certain, whereas losses are recorded even if reasonably probable. Explain the statement

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Financial Accounting For Managers

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