In 2006, a contract dispute between Dollis Co. and Brooks Co. was submitted to binding arbitration.
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In 2006, a contract dispute between Dollis Co. and Brooks Co. was submitted to binding arbitration. In 2006, each party’s attorney indicated privately that the probable award in Dollis’ favor could be reasonably estimated. In 2007, the arbitrator decided in favor of Dollis. When should Dollis and Brooks recognize their respective gain and loss? align=”left”>
Dollis’ gain
Brooks’ loss
a.
2006
2006
b.
2006
2007
c.
2007
2006
d.
2007
2007
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