Approximation

More or Less in Legal Contracts
The term 'more or less' is used in legal contracts to allow for a slight deviation from the specified amount or measurement. For example, land described as 100 acres, more or less, means the contract remains valid even if the land is slightly more or less than 100 acres.
Rounding Error
A rounding error is a computational discrepancy that occurs when the exact representation of a number cannot be stored accurately in a computer due to limitations in precision, leading to an approximation stored with finite digits.

Accounting Terms Lexicon

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