Binary have I got it right?

I was reading my networking book and it starts of with the maths involved in networking such as binary. I myself am not a maths genius but I actually think I have got the hand of binary.

Ok, what I know is each 1 and 0 is known as a bit and 8 bits make a byte so 1,000 bits would be a kilobit and 1,000 bytes would be a kilobyte, so would that make 8,000 bits a kilobyte?

I also know that 1= on and 0= off and that 128, 64, 32, 16, 8, 4, 2 and 1 are the lowest eight positions used in the binary numbering system so the binary number 10110 would be 24 in the decimal system?

If all I have said is correct then I will be pretty happy as it means I understand binary :) Also, I know undestand the joke about there is only 10 types of people in this world.....