Concept:
Skill refers to the learned ability to perform an activity efficiently and effectively with minimum expenditure of time, energy, and effort. Skilled performance is generally characterized by accuracy, precision, coordination, and economy of movement.
Step 1: Examine Assertion (A).
The assertion states that skill involves achieving results with maximum outlay of energy, time, and effort.
This statement is incorrect because skill actually aims at:
\[
\text{Minimum expenditure of energy, time, and effort}
\]
Step 2: Examine Reason (R).
The reason states that a skill should have a high degree of precision and accuracy.
This statement is correct because skilled performance requires accurate and precise execution.
Step 3: Determine the correct option.
Since Assertion (A) is incorrect but Reason (R) is correct:
\[
\boxed{\text{(A) is not correct but (R) is correct}}
\]
Therefore, the correct answer is:
\[
\boxed{(D)}
\]