Give the meaning of ‘depreciation’
and state any four methods of calculating depreciation.
Depreciation
Depreciation means a loss in
the value of a property either due to life, structural deterioration, wear and
tear, decay and obsolescence. Thus depreciation represents the ‘uselessness’ of
a property and hence it indicates a deposit of some regular amount to determine
or maintain its present value.
Four methods of calculating
depreciation are:
Straight line method
Constant percentage method
Quantity survey method
Sinking fund method
Unit cost method
State any four purpose of
specifications.
To define quality of materials
and workmanship.
To serve as a guide to the
contractor as well as supervisor during execution of work.
To reduce responsibility of the
owner.
To form a legal contract
document in case of disputes.
Mention the types of
specifications and state where they are used.
Specifications are of two
types:
General or brief specifications
Detailed specifications
Brief specifications are useful
to give a general idea of work and materials involved and hence are used in
preparing the estimate of a building. Detailed specifications are used for (i)
obtaining technical sanction. (ii) forming a legal contract document and, (iii)
ensuring quality of work on site.
Mention eight factors affecting
the cost of work.
Demand, supply and availability
of labour.
Labour requirement and availability of labour.
Situation of site of work
affecting transportation costs.
Foundation conditions at site
of work.
Quality of work required.
Specifications of work.
Type of work – minor, major,
specialized, general.
Topography of site, ground water
conditions, drainage requirements etc.
