A document containing detailed description of all the items of work (but their quantities are not mentioned) together with their current rates is called:
- AOption (a)
Tender
- BOption (b)
Scheduled of rates
- COption (c)
Analysis of rate
- DOption (d)
Abstract estimate.
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Correct answer
Scheduled of rates
Why this answer is correct
Explanation:
Tender: It refers to an invitation to bid for a project. It is offered in writing to execute the work as specified by the owner. Tendering usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline.
Schedule of rates: It is the list of rates of various items. It is a document containing a detailed description of all the items of work (but their quantities are not mentioned) together with their current rates.
Analysis of rates: In order to determine the rate of a particular item, the factors affecting the rate of that item are studied carefully and then a rate is decided for that item. This process of fixing the rate of an item is termed an analysis of rates or rate analysis.
Abstract Estimate: An abstract estimate is prepared in order to enable the authority competent to give administrative approval to the expenditure.
No detailed knowledge is required to prepare abstract estimates or approximate estimates.