Round Off the Following Decimal to the Nearest Thousandth

question 26

Short Answer

Round off the following decimal to the nearest thousandth.
0.3333 = _____

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Definitions:

Matching Capacity

Matching capacity involves adjusting a company's production capacity to meet forecasted demand, ensuring efficient use of resources.

Activity-Based Costing

An accounting method that assigns overhead and indirect costs to related products and services by identifying cost drivers.

Machine-Hours

Machine-Hours measure the amount of time machines are in operation during a certain period, often used for allocating machine-related expenses to products.

Activity Cost Pools

A method in cost accounting where costs are accumulated according to the activities that incur them.