Employees tend to significantly overestimate the cost and value of their benefits. Group startsTrue or False

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05-07-2022
Business

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Employees tend to significantly overestimate the cost and value of their benefits. Group startsTrue or False

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Tushargupta0691idn Tushargupta0691idn · Answer 1 · 2022-07-17T08:55:19-04:00

The correct answer is True. Employees tend to significantly overestimate the cost and value of their benefits.

What does it mean to overestimate something?

to place an excessive amount of value on (someone or something) The senator significantly overstated what he owed the government since he had been so responsible with regard to his possible tax duties.

Overestimation occurs when the estimate is greater than the actual value. Underestimation occurs when the estimate is less accurate than the actual value.

Budgets are financial planning documents. Large companies typically have master budgets based on projections taken from sub-budgets for various functional divisions of the company, such as sales, manufacturing and administration. Small businesses typically have a single budget that projects income and expenditures for the next fiscal year. When a company has overestimated some part of its budget, it can mean the actual income is less than what was projected,

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