Question: When a material gain contingency is probable and the amount of gain can be reasonably estimated, the gain should be: A . Reported in the

When a material gain contingency is probable and the amount of gain can be reasonably estimated, the gain should be:
A. Reported in the income statement and disclosed
B. Disclosed, but not recognized in the income statement
C. Offset against shareholders' equity
D. Neither recognized in the income statement nor disclosed

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