Technically you're correct, but the cheapies are going to have a resistance feature, I've not seen a cheap one without. When you get into expensive, real test equip, voltmeter vs multimeter makes a diff, not seeing that with the cheap dvms, we're not talking Flukes here -

http://www.batterystuff.com/battery-...ts/YDMM05.html

http://www.northerntool.com/shop/too...ct_12496_12496


I use the Northern tool one that I got on special for $5. These are cheap and accurate enough or rc work.