Pick up the correct statement from the following:

A. The estimated value of the work excluding the amount for contingencies, work charged establishment, tool and plants, is called work value

B. The actual expenditure involved to complete a work including incidental, establishment and travelling charges, is called actual cost

C. The formal acceptance by the administrative department for incurring an expenditure on the work, is called administrative approval

D. All the above

Answer: Option D

Solution(By Examveda Team)

Work value refers to the estimated value of the work, excluding amounts for contingencies, work-charged establishment, tools, and plants.

Actual cost is the total expenditure involved in completing a work, including incidental, establishment, and traveling charges.

Administrative approval is the formal acceptance by the administrative department for incurring an expenditure on the work.

Therefore, all the statements are correct, making Option D: All the above the correct answer.