What are Billable Hours?
Billable hours refer to the amount of time a professional spends on work that can be billed to a client. This includes tasks such as consulting, legal work, and accounting. The amount of billable hours worked is used to calculate the cost of the services provided to the client. Billable hours are an important metric for professionals who bill their time, as they determine the amount of revenue generated for the business. For example, a lawyer may bill a client for the time spent on a case, such as researching, drafting documents, and attending court hearings. Billable hours can vary significantly depending on the industry and the nature of the work being performed.
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