ESTIMATION AND COSTING - Practice Mode

1) What is a under estimate?

No work started as per estimate An estimate perfectly matches with actual An estimate is fell short of the actual estimate An estimate is exceeded the actual estimate

Correct Answer: An estimate is fell short of the actual estimate

2) What is the term used for the method of calculating various quantities and expenditure on a particular job or process?

Estimation Drawing Specification Plan

Correct Answer: Estimation

3) What is the main factor to be considered while preparing a detailed estimate?

Shape of material Brand of the materials Quantity, availability and transportation of materials Location of material

Correct Answer: Quantity, availability and transportation of materials

4) Which authority publishes schedule of rates?

Individual Corporate Partnership firm Government department

Correct Answer: Government department

5) What is the name of a booklet, the rates of various terms are indicated?

Price bank Price bunch Price tag Price catalogue

Correct Answer: Price catalogue

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