>> Question 16 2.5 pts (1)____ contingencies can only be disclosed in the footnotes to the financial statements while --_(2)... contingencies can be accrued and reported on the financial statements themselves. 1) Loss, 2) gain 1) Both loss and gain, 2) gain 1)Gain, 2) loss 1) Loss, 2) both loss and gain Question 17 2.5 pts Self-insurance against certain risks O Means that the company is an insurance company that insures against its own risks. O Cannot be disclosed in notes to the financial statements. Should be accrued as a contingent liability. None of these statements is true