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What are robotics?
Expenses
Costs incurred during the operation of a business, such as rent, salaries, and utilities, required for generating revenue.
Revenue
The overall earnings accrued from transactions involving goods or services at the heart of a business's primary operations.
Retrospective Approach
The retrospective approach involves revising previously issued financial statements to reflect changes in accounting policy as if the new policy had always been in effect.
Change In Accounting Principle
An adjustment made to the accounting methods used by a company, requiring retrospective restatement of prior financial statements to reflect the new principle.
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