The Measurement Is 4,000

question 274

Multiple Choice

The measurement is 4,000.0 cm. Find the precision and the greatest possible error of the measurement.

• A) The precision of the measurement is 0.001 cm. The greatest possible error of the measurement is 0.005 cm.
• B) The precision of the measurement is 0.01 cm. The greatest possible error of the measurement is 0.005 cm.
• C) The precision of the measurement is 0.1 cm. The greatest possible error of the measurement is 0.05 cm.
• D) The precision of the measurement is 0.001 cm. The greatest possible error of the measurement is 0.0005 cm.
• E) The precision of the measurement is 0.01 cm. The greatest possible error of the measurement is 0.05 cm.

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Definitions:

Fair Value

The market-based measurement of the value of an asset or liability based on current transactions between willing parties, outside of a forced liquidation or distress sale.

Acquisition Method

An accounting technique used in consolidations that involves recording the assets and liabilities of a company being acquired at their fair value at the date of acquisition.

Consolidated Balance Sheet

A financial statement that aggregates the total assets, liabilities, and equity of a parent company and its subsidiaries.

Stockholders' Equity

The residual interest in the assets of a corporation after subtracting liabilities, representing the ownership stake of shareholders.