ACCOUNTS RECEIVABLE TURNOVER Definition

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ACCOUNTS RECEIVABLE TURNOVER is the ratio of net credit sales to average accounts receivable, which is a measure of how quickly customers pay their bills.

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BOND INSURANCE is insurance purchased by bond issuers to guarantee the timely payment of principal and interest, primarily for municipal bond issues. The Municipal Bond Investment Assurance Corp. (MBIA), Federal Guarantee Insurance Corp. (FGIC) and AMBAC Indemnity Corp. (AMBAC) are among the largest insurers. Insured bonds are rated AAA.

ECONOMIC PROFITS is the difference between the total revenue and the total opportunity costs.

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