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During an audit of financial statements, the auditor is aware that gain contingencies are not...

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Accounting

During an audit of financial statements, the auditor is aware that gain contingencies are not accrued until they are realized, although in certain instances they may be disclosed in the notes to the financial statements. This is due to the concept of
  • A. materiality.
  • B. disclosure.
  • C. conservatism.
  • D. priorities.

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