The estimate based on a detailed quantity survey and furnishes the most accurate

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Question
The estimate based on a detailed quantity survey and furnishes the most accurate and reliable estimate possible is known as
Options
A. Conceptual estimate
B. Definitive estimate
C. Probabilistic estimate
D. None of these

Correct Answer

Definitive estimate

Engineering Economy problems

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4. The key to profitable operation for project cost control, is :
Options
A. To keep the project cost equal to original cost estimate.
B. To keep the project cost equal to subsequent construction budget.
C. To keep the project cost within the cost budget and knowing when and where job costs are deviating.
D. None of these

5. Pick up the correct statement from the following:
Options
A. An annuity is a series of equal payments occurring at equal period of time.
B. Annuity is called an equal payment or uniform payment series.
C. An annuity may have periods of time of any length but should always be of equal length.
D. All the above.

6. Pick up the ratio which gives us sufficient information by which to judge the financial condition and performance of the firm, from the following:
Options
A. Liquidity ratio
B. Financial leverage ratio
C. Activity ratio
D. Portability
E. None of these

7. The estimator for definitive estimates must be able :
Options
A. and an all-around construction expert.
B. to read the plans and specifications to determine accurate quantities of permanent materials and installed Equipment.
C. to express the job material requirements in dimensions suitable for costing and construction supplies.

9. Which one of the following is included in financial ratios of the firm?
Options
A. Profitability ratio
B. Liquidity ratio
C. Turnover ratio
D. Ratio of overall performances
E. All of these

10. The alternatives which are standalone solutions for given situations in engineering involve :
Options
A. a purchase cost (first cost)
B. the anticipated life of the assest
C. the yearly costs of maintaining the assest (annual maintenance and operating cost)
D. the anticipated resaleable value (salvage value) and the interest return (rate of return)
E. All of these

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