LEGALLY MANDATED Definition

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LEGALLY MANDATED is that which is required by law, e.g. the ratio of majority inhabitant vs. minority new-hire quotas in a legislated work environment.

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UNDER-BILLING is not recovering the full value of the agreed upon price or not billing for the correct amount of services or goods provided (usually unintentional).

RETURN ON RATE BASE is the ratio of net operating income earned by a utility, calculated as a percentage of its rate base.

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