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It means Minute of Angle. Yes, it is a measure of accuracy.
If you can shoot 'minute of angle' you can likely hit a quarter at 100 yards more often than you will miss it.
hmmmmm, alto. i think i have been there before, though not on an atv, instead i was in a jerky van. it is somewhere in northeast, texas in the piney woods. that's all i know.