172driver, quite right about the checkride. I always tell our cadets you cannot fail any check for going around when you could have continued. Continue when you should have gone around however is not so good. However I can assure you that once inside the gate, company procedures do not mandate a GA solely because you dip into 4 reds ( or whites ). I would add that I don't find your instructors reasoning that just because runway was in sight you could have continued, particularly helpful. Ultimately it is a judgement call, and remember a lot of time and effort has gone into the wording of those manuals to ensure they are very much open to interpretation!