0.01 acres is correct.
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It is neither. An acre is 1 (or 1.0) acres, half an acre is 0.5 acres. 0.247 is close to 1/4 (which is exactly 0.25).
A third of an acre is 0,333333333333 acres. 0,333333333333 acres are 14520 square feet.
0.6020 acres is exactly 0.6020 of an acre.
.25 acres or One Fourth Acre. There is no official name for it. A quarter-acre.
About 29% of an acre (0.2869 acres).