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Which procedure is designed to minimize the effect that the presence of an observer has on the behavior that is being observed?
Net Income
The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.
Gain Contingencies
Potential increases in assets or decreases in liabilities that may occur as a result of a future event, and which are acknowledged in financial statements if they are probable and can be reasonably estimated.
Footnote Disclosures
Explanatory notes added to the financial statements to provide more detailed information about certain figures.
Subsequent Events
Events occurring after the balance sheet date but before the financial statements are issued, which could materially affect the financial statements if not accounted for.
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