Accuracy refers to the closeness of a measured value to the true value of quantity.

Precision refers to the closeness of two or more measurements to each other.

eg.

Let the true value of a certain length be around 10.678 cm.In one experiment,using measuring instrument of resolution 0.1 cm,the measured value is found to be 10.5 cm while in another experiment,using a measuring instrument of resolution 0.01 cm, the length is found to 10.38 cm cm.

Then the first measurement has more accuracy (becaus it is closer to the true value) and has less presion (because its resolution is only 0.1 cm).

and The second measurement has less accuracy but more precision.

This is the case of comparision of measuring instrument actually.

So, yes it is possible for an instrument to have low accuracy and low precision.