ACTIVITY RATIO Definition

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ACTIVITY RATIO is any accounting ratio that measures a firms ability to convert different accounts within their balance sheets into cash or sales.

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CALLABLE BOND is a bond the issuer has the right to pay off at issuers discretion.

GROSS NATIONAL PRODUCT (GNP) is the total dollar value of all final goods and services produced for consumption in society during a particular time period. The GNP does include allowances for depreciation and indirect business taxes such as those on sales and property. Gross national product is the output of labor and property of US nationals regardless of the location of the labor and property. Gross National Product includes income earned by the factors of production (assets and labor) owned by a countrys residents but excludes income produced within the countrys borders by factors of production owned by nonresidents.

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