What Does the Term "Billable Time" Mean as It Pertains

question 40

Multiple Choice

What does the term "billable time" mean as it pertains to payroll accounting?

• A) It is employee labor that may be billed to customers.
• B) It is employee labor that does not pertain to labor on customer jobs.
• C) It is non-traceable labor that a company must absorb as overhead.
• D) It is non-employee labor that the company must pay.

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Definitions:

National Debt

is the total amount of money that a country's government has borrowed, by various means, and has not yet repaid.

Top Marginal Tax Rate

The highest tax rate applied to the last dollar of taxable income, affecting the highest income earners within a progressive tax system.

1980

A year marked by significant global events including the eruption of Mount St. Helens and the election of Ronald Reagan as the President of the United States.

Government Ownership

The possession and control over enterprises and assets by the state or government, rather than private individuals or organizations.