Estimate Cost Is the Process of Developing an Approximation of the Monetary

question 31

True/False

Estimate Cost is the process of developing an approximation of the monetary resources needed to complete project activities.

---

Definitions:

Rounded

Refers to adjusting numbers to the nearest whole number in financial and mathematical calculations.

Withholding Amount

The portion of an employee's wages deducted by the employer and paid directly to the government as partial payment of income tax.

Taxable Payment

Any payment subject to tax by the relevant authorities, including wages, salaries, bonuses, and other income streams.

Taxpayer

A person or organization required to make tax payments to governmental authorities at the federal, state, or local level.