True or False: In "time-and-materials" estimating, having a predetermined scope of work and price list are two primary control measures for billing.

In "time-and-materials" estimating, accurate billing relies heavily on well-defined processes, which include having a predetermined scope of work and a price list. A predetermined scope of work sets clear expectations for what tasks will be executed, helping to minimize disputes and misunderstandings about the services to be delivered. This clarity allows for an organized approach to measuring progress and validating the work completed against the estimated billing.

Additionally, a price list serves as a benchmark for the costs associated with labor and materials, ensuring that billing remains consistent and transparent. This structured pricing framework allows both the provider and the client to have a clear understanding of potential charges, which is essential in fostering trust and maintaining transparency throughout the project.

Together, these elements play a fundamental role in controlling billing in a time-and-materials setting, as they provide a basis for evaluating costs and managing project finances effectively. Thus, stating that these two components are primary control measures is fundamentally true.