A Group of Eight Bits Is Called a _______

question 68

Multiple Choice

A group of eight bits is called a _______.

• A) byte
• B) megabit
• C) binary
• D) numeric data

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Definitions:

Consolidated Inventory

The combined inventory of all entities in a group reported as one total in the consolidated financial statements.

Inventory

Inventory represents the goods and materials a company holds for the ultimate purpose of resale or processing in the production process.

Fair Value

The estimated market price of an asset or liability, reflecting the amount for which it could be exchanged in an arm's length transaction.