If You Use an Instrument to Measure 1 Ml of Water

question 35

Multiple Choice

If you use an instrument to measure 1 ml of water and do it 3 times, weighing the water each time, you get 0.751, 0.753, and 0.750 grams. One ml of water should weigh 1.0 grams. The measurements are _________.

• A)accurate but not precise
• B)precise but not accurate
• C)both precise and accurate
• D)neither precise nor accurate

Understand the revenue and expense recognition principles.

Identify the components and calculation of the operating cycle.

Realize the impact of cash and accrual transactions on financial statements.

Know the application of generally accepted accounting principles (GAAP) in financial reporting.

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Definitions:

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