Yes. One pound equals to 16 ounces and one ounce equals 0.06 of a pound. Also this relates only to solid (weight) ounces. There are two different kinds of ounces, ounces of weight/mass and ounces of volume (fluid). This can change when you are using the ounces to measure a non-liquid such as flour or sugar since the weight of dry items is not the same as their volume. An ounce of volume is called a "fluid ounce."
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There are 16 ounces in one pound. Therefore to get amount of pounds in ounces, value in ounces has to be divided by amount of ounces in one pound:
16 ounces = [ounces] / 16 = 16 / 16 = 1 pound
2 lb. One pound equals to 16 ounces and one ounce equals 0.06 of a pound. Also this relates only to solid (weight) ounces. There are two different kinds of ounces, ounces of weight/mass and ounces of volume (fluid). This can change when you are using the ounces to measure a non-liquid such as flour or sugar since the weight of dry items is not the same as their volume. An ounce of volume is called a "fluid ounce."