The term                              is used to denote a procedure of costing or valuing an item of work on the basis of actual labourers and materials required.

Related MCQs

• The term is used to denote a procedure of costing or valuing an item of work on the basis of actual labourers and materials required.
• While fixing rate per unit of an item, the quantity of materials and labour needed for one unit of an item are strictly per
• is required for preliminary studies of various aspects of a work or project.
•                                    is required for preliminary studies of various aspects of a work or project.
• A large work or project may consists of several building or small works and each of these work is known as                        
• The process of working out the cost per unit of each item is known as                    
• Considerations of costing systems are
• Properties of workpiece materials are
• is prepared on the basis of plinth area of building, the rate being deducted from the cost of similar building having similar specification, heights and construction, in the locality.
•                      is prepared on the basis of plinth area of building, the rate being deducted from the cost of similar building having similar specification, heights and construction, in the locality.