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A company shoid acctue a gain contingency and report it on the financial statements ONLY if the likefhood that a lability has been incurred is: Selectione a. Reasenably possibie, and the amount of the gain is known b. Probable, and the amount of the gain can be reasonably estimated C. Probable, and the amourt of the gain is known d. Never accrued, bed moy be disclosed provided that the note does not mslesd financia/ statement users Noncounterbalancing errors ate Select one: a. Errors that correct themselves within two consecutive accounting periods b. Errors that reduce net income in a period c. Errors that correct thernselves within five consecutive accounting periods d. Errors that do not correct themselves within two consecutive accounting periods Which of the following would Nor be considered a current liability? Select one: a. Estimated income taxes withheld from salaries and wages of employees b. Cash advances from customers c. Sales taxes collected from customers d. An ucused line of credit