Allowability

Business, Legal & Accounting Glossary

Definition: Allowability


Allowability


What is the dictionary definition of Allowability?

Dictionary Definition


The state of being allowable; legitimacy; permissibleness.


Full Definition of Allowability


Characteristic of a cost that permits its inclusion in a cost-plus type contract, and depends on:

  • its reasonableness
  • its allocability
  • provisions of GAAP.
  • practices appropriate under the circumstances, and
  • the terms of the contract.

Cite Term


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Page URL
https://payrollheaven.com/define/allowability/
Modern Language Association (MLA):
Allowability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 29, 2024 https://payrollheaven.com/define/allowability/.
Chicago Manual of Style (CMS):
Allowability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/allowability/ (accessed: March 29, 2024).
American Psychological Association (APA):
Allowability. PayrollHeaven.com. Retrieved March 29, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/allowability/

Definition Sources


Definitions for Allowability are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December, 2019 | 0 Views.