The term "ratable" can have different meanings depending on the context in which it is used. Here are a few possible definitions:
In accounting, "ratable" refers to an expense or income that is allocated or spread out over a period of time rather than being recognized all at once. For example, if a company purchases a piece of equipment that will last for 10 years, they might choose to expense or depreciate the cost of the equipment in equal amounts over the 10-year period.
In insurance, "ratable" refers to the premium charged for a policy that is based on some measurable characteristic of the insured, such as their age, gender, or driving record. For example, a 20-year-old male driver with a history of speeding tickets may be charged a higher ratable premium for car insurance than a 40-year-old female driver with a clean record.
In general usage, "ratable" can simply mean "able to be rated or evaluated." For example, a restaurant might be rated on a scale of 1 to 5 stars, with its ratable qualities including the quality of its food, the level of service, and the atmosphere of the establishment.
