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GalinKa [24]
2 years ago
11

A large manufacturing business has hired you as a fraud detection specialist. The first day on the job your boss tells you she h

as heard about something called Benford's Law that is used to detect fraud, and she wants to know more about it. She has asked you to explain what Benford's Law is and how it is applied.
Business
1 answer:
bezimeni [28]2 years ago
3 0

Answer:

Benford's Law predicts the frequency of leading digits using base-10 logarithms which predict that specific frequencies will decrease from 1 to 9.

It predicts that in a large set of data, the leading digits will be as following:

<u>Leading number</u>                         <u>Probability of appearance</u>

       1                                                              30%

       2                                                             18%

       3                                                             12%

       4                                                             10%

       5                                                              8%

       6                                                              7%

       7                                                              6%

       8                                                              5%

       9                                                              4%

Benford's Law is used by forensic accountants since people who fabricate data figures tend to distribute the leading digits uniformly. If you compare the distribution of the leading digits of the data sample with the expected distribution using Benford's Law you can detect any anomaly (e.g. if number 3 shows up 30% of the time instead of around 12%).

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Zarrin [17]

Answer: d. $45,000 should be debited to Land Improvements.

Explanation:

Land improvements records any moderation to land asset that is expected to add to its value and lasts for more than a year.

The paving and lighting of the parking area will add value to the area and will last longer than a year so both should go to the Land improvement account. As this account is an asset account, it will be debited when increased:

= 30,000 + 15,000

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gizmo_the_mogwai [7]

Answer:

C

Explanation:

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Will is currently in a 22% tax bracket and has a 7.2% savings rate of return. What is his after-tax savings rate of return
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Based on the information given his after-tax savings rate of return is 5.62%.

<h3>After-tax saving rate of return</h3>

Using this formula
After-tax savings rate=Saving rate of return×(1-Tax rate)

Where:

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Let plug in the formula

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Inconclusion his after-tax savings rate of return is 5.62%.

Learn more about After-tax savings rate here:brainly.com/question/3520758

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