multimeter
A multimeter is the Swiss-army knife on every electronics bench: one handheld box that measures voltage, current, and resistance (its three classic jobs — hence the older name VOM, volt-ohm-meter). Touch its two probes across a battery and it reads 1.48 V; clip it onto a resistor and it reads 9.97 kΩ. It answers the everyday questions — "is this fuse blown?", "is power actually reaching the board?", "are these two pads shorted?" — faster than any other tool, which is why it's usually the first instrument a beginner buys.
Inside, everything reduces to measuring a voltage. To read current it puts a tiny known resistor (a shunt) in series and measures the voltage across it (Ohm's law backwards); to read resistance it pushes a known small current through the unknown part and measures the resulting voltage. That's why the leads and the dial must match the job: a voltmeter is connected in parallel and has very high impedance so it barely draws current, while an ammeter is connected in series and has near-zero impedance — plug the leads into the current jacks and then probe across a live supply and you create a near-short that pops the meter's internal fuse instantly.
Cheap meters are not 'true-RMS': they assume a clean sine wave and silently misread distorted AC (like the chopped current drawn by an LED dimmer or switching supply) by 10–40%; for anything non-sinusoidal you need a true-RMS meter that actually computes the root-mean-square.