Computer · Estimation and Costing
Which of the following statements is/are true regarding budget provision in estimation and costing? Statement 1: Estimates decide whether the proposed plan matches the funds available or not. Statement 2: Estimates give an idea of the cost of the work; hence, its feasibility can be determined i.e. whether the project could be taken up with the available funds/budget or not.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement 1 is true, Statement 2 is false
- 2Statement 1 is false, Statement 2 is true
- 3Both Statement 1 and Statement 2 are true✓
- 4Both Statement 1 and Statement 2 are false
Correct answer
Both Statement 1 and Statement 2 are true
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