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

question 43

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-employee labor that the company must pay.
• D)It is non-traceable labor that a company must absorb as overhead.

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Definitions:

Goods

Tangible items that are produced and are capable of being physically delivered to a consumer.

Px(MUx)

This expression denotes the price of a good (Px) multiplied by its marginal utility (MUx), commonly used in economic analysis of consumer choice.

MUx/MUy

Represents the marginal utility of good x relative to the marginal utility of good y, often used in consumer choice theory to analyze optimum consumption points.

TUx/Px

An economic expression evaluating the marginal rate of substitution, which measures how much of one good a consumer is willing to give up for another good, maintaining a constant level of utility.