ACCOUNTS RECEIVABLE Definition

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ACCOUNTS RECEIVABLE is a current asset representing money due for services performed or merchandise sold on credit.

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INTERNAL is inside the country, e.g. a nations internal politics; or, happening, arising or located inside a company, e.g. internal requirements or transactions.

BENFORD'S LAW is a mathematical law that applies to any population of numbers derived from other numbers (such as the dollar amount of a sale, found by multiplying the quantity sold times the unit price). It holds that 30% of the time the first non-zero digit of this derived number will be one, and it will be a nine only 4.6% of the time. Benford's law is used by auditors to identify fictitious populations of numbers.

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