What accounting concept supports accruing contingent losses but not recording contingent gains until they are realized?

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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Question Posted: May 10, 2024 04:02 AM

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What accounting concept supports accruing contingent losses but not recording contingent gains until they are realized?

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Horngrens Accounting Volume 1

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