ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 316
d. State income taxes.
59.
What is a contingency?
a. An existing situation where certainty exists as to a gain or
loss that will be resolved when one or more future events occur
or fail to occur.
b. An existing situation where uncertainty exists as to possible
loss that will be resolved when one or more future events occur.
c. An existing situation where uncertainty exists as to possible
gain or loss that will not be resolved in the foreseeable future.