Why does phpMyAdmin show the wrong number of rows in a table?

Question

You may notice when viewing a fairly large table in phpMyAdmin that it shows the wrong number of rows in the table? Why is this?

Answer

This is due to phpMyAdmin using a faster, but inaccurate method of determining row counts of a table if it is over a certain number of rows. This defaults to 50,000 rows now for performance reasons per the phpMyAdmin documentation.