Final answer:
The correct term for an elevated platform projecting from a building's wall and enclosed by a railing or parapet is 'balcony'. A balcony provides an outdoor area that is typically not on the ground floor, distinguishing it from a terrace, patio, and veranda.
Step-by-step explanation:
The term for an elevated platform projecting from the wall of a building, which is enclosed by a railing or parapet, is a balcony. This architectural feature is often found on the upper floors of a building and provides an outdoor space for users to enjoy.
A balcony differs from a terrace, patio, and veranda in that it is typically at a higher level and not on the ground floor. For example, in theatres, this term is commonly used to denote a raised seating area above the main floor, as mentioned when discussing the layout of the auditorium with Mezzanine and Balcony levels.