What Is the Largest Value That Can Be Represented in a Floating-Point

question 48

Short Answer

What is the largest value that can be represented in a floating-point system in which each value is encoded by a byte whose most significant bit is the sign bit,the next three bits represent the exponent field in excess notation,and the last four bits represent the mantissa?
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Definitions:

Going Concern

The assumption that an entity will continue its operations in the foreseeable future and not go bankrupt or be forced to stop operations.

Financial Statements

Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and cash flow statements.

Fundamental Qualitative

This term is incomplete without referencing specific context, but it often relates to the essential qualitative characteristics that information must possess to be useful in decision making, such as relevance and faithful representation.

Faithful Representation

A qualitative characteristic of financial information that ensures it accurately depicts the economic phenomena it represents.