An Octal Digit Can Be Represented with Only Three Bits

question 24

True/False

An octal digit can be represented with only three bits because the largest digit in octal is seven.

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Definitions:

Net Income

The profit remaining after all costs, expenses, and taxes have been subtracted from total revenue.

Allowances

Funds set aside or discounts offered to account for various factors such as potential returns, defective goods, or customer satisfaction initiatives.

Income-Sharing Ratio

An agreed upon proportion used to distribute profits or losses among partners in a partnership.

Limited Liability Company

A corporate model that integrates the flow-through taxation characteristic of partnerships and sole proprietorships with the protective limited liability found in corporations.