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Consider the following statements.
1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).
2. Quick Estimate is a kind of revised estimate which shows the most latest situation.
3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.
Which of these statements is/are correct?
- a)1 and 2 Only
- b)2 and 3 Only
- c)1 and 3 Only
- d)All of them
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Consider the following statements. 1. Revised Estimate is a current e...
(i) Revised Estimate (RE) Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE). It shows the contemporary situation.
(ii) Quick Estimate (QE) Quick Estimate is a kind of revised estimate which shows the most latest situation and is useful in the process of going for future projections for some sector or sub-sector. It is interim data.
(iii) Advance Estimate (AE) Advance Estimate is a kind of quick estimate but done ahead (in advance) of the final stage when it should have been collected. It is interim data.
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Most Upvoted Answer
Consider the following statements. 1. Revised Estimate is a current e...
Revised, Quick, and Advance Estimates
Revised Estimate, Quick Estimate, and Advance Estimate are different types of estimates used in budgetary planning and forecasting. Let's understand each of them in detail.
Revised Estimate:
- Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).
- It is made with the aim of correcting any errors or inaccuracies in the original estimates.
- Revised Estimate is prepared when there is a significant deviation from the original estimate due to various factors such as inflation, economic changes, or unforeseen circumstances.
Quick Estimate:
- Quick Estimate is a kind of revised estimate which shows the most latest situation.
- It is prepared to give a rough idea of the current situation and is based on the most recent data available.
- Quick Estimate is generally used when there is a need for urgent decision-making and there is no time to prepare a detailed estimate.
Advance Estimate:
- Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.
- It is prepared well in advance of the final stage when the data should have been collected.
- Advance Estimate is used when there is a need to plan for future events or projects and there is no time to wait for the final stage.
Conclusion:
In conclusion, Revised Estimate, Quick Estimate, and Advance Estimate are all important tools used in budgetary planning and forecasting. While Revised Estimate corrects any errors or inaccuracies in the original estimates, Quick Estimate and Advance Estimate are used to give a rough idea of the current situation and plan for future events respectively. It's important to understand the differences between these estimates and use them appropriately to make informed decisions.
Revised Estimate, Quick Estimate, and Advance Estimate are different types of estimates used in budgetary planning and forecasting. Let's understand each of them in detail.
Revised Estimate:
- Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).
- It is made with the aim of correcting any errors or inaccuracies in the original estimates.
- Revised Estimate is prepared when there is a significant deviation from the original estimate due to various factors such as inflation, economic changes, or unforeseen circumstances.
Quick Estimate:
- Quick Estimate is a kind of revised estimate which shows the most latest situation.
- It is prepared to give a rough idea of the current situation and is based on the most recent data available.
- Quick Estimate is generally used when there is a need for urgent decision-making and there is no time to prepare a detailed estimate.
Advance Estimate:
- Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.
- It is prepared well in advance of the final stage when the data should have been collected.
- Advance Estimate is used when there is a need to plan for future events or projects and there is no time to wait for the final stage.
Conclusion:
In conclusion, Revised Estimate, Quick Estimate, and Advance Estimate are all important tools used in budgetary planning and forecasting. While Revised Estimate corrects any errors or inaccuracies in the original estimates, Quick Estimate and Advance Estimate are used to give a rough idea of the current situation and plan for future events respectively. It's important to understand the differences between these estimates and use them appropriately to make informed decisions.
Community Answer
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Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer?
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Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer?.
Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements. 1. Revised Estimate is a current estimation of either the budgetary estimates (BE) or the provisional estimates (PE).2. Quick Estimate is a kind of revised estimate which shows the most latest situation.3. Advance Estimate is a kind of quick estimate but done ahead of the final stage when it should have been collected.Which of these statements is/are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice UPSC tests.
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