The Collaborative International Dictionary of English v.0.48:

Acceptability \Ac*cept`a*bil"i*ty\, n. [LL. acceptabilitas.]
   The quality of being acceptable; acceptableness.
   "Acceptability of repentance." --Jer. Taylor.
   [1913 Webster]

WordNet (r) 3.0 (2006):

acceptability
    n 1: satisfactoriness by virtue of conforming to approved
         standards [syn: acceptability, acceptableness] [ant:
         unacceptability, unacceptableness]