Find the Absolute and Relative Errors $- 1.5$ Inches
Relative Error $- 5.6 \%$

question 120

Multiple Choice

Find the absolute and relative errors.
-The length of the piece of fabric is 27 inches but you measure it as 25.5 inches.

• A) absolute error: \(- 1.5\) inches
• relative error: \(- 5.6 \%\)
• B) absolute error: \(1.5\) inches
• relative error: \(5.6 \%\)
• C) absolute error: \(- 1.5\) inches
• relative error: \(- 15 \%\)
• D) absolute error: \(- 1.5\) inches
• relative error: \(- 5.9 \%\)

Grasp the concept of assets, liabilities, and equity in a business context.

Comprehend different types of business ownership structures and their characteristics.

Recognize the formulas used for calculating financial ratios and their applications.

Understand the concept of accounts receivable and its impact on business operations.

---

Definitions:

Formal Steps

Formal steps are specific procedures required by law or regulation to complete a legal action or process.

Incorporate

To incorporate is to legally form a corporation by filing required documents with a governmental entity, granting the company distinct legal status from its owners.

Unlimited Liability

The liability of the sole proprietor or the partners for all debts incurred by the business to the extent of their personal resources.

Sole Proprietorship

A business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.