Relaxing the sequential specification of shared objects has been proposed as a promising approach to obtain implementations with better complexity. In this paper, we study the step complexity of relaxed variants of two common shared objects: max registers and counters. In particular, we consider the $k$-multiplicative-accurate max register and the $k$-multiplicative-accurate counter, where read operations are allowed to err by a multiplicative factor of $k$ (for some $k \in \mathbb{N}$). More accurately, reads are allowed to return an approximate value $x$ of the maximum value $v$ previously written to the max register, or of the number $v$ of increments previously applied to the counter, respectively, such that $v/k \leq x \leq v \cdot k$. We provide upper and lower bounds on the complexity of implementing these objects in a wait-free manner in the shared memory model.