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Benford's law
A mathematic law applying to all kinds of numbers derived from other numbers (such as dollar amount of sales, found by multiplying the quantity sold times with unit price). It holds a 30% of the time of first non-zero digit of this number derived that will be unique, and will be just nine only of 4.6% of the time. Benford's law is used by auditors to identify fictitious kinds of numbers.
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- Part of Speech: noun
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- Industry/Domain: Accounting
- Category: Auditing
- Company: AIS
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