The ability for a consumer to purchase a product or service without paying until a future date, or (2) a security given by a government agency to secure additional funds.
Face-amount of a life insurance policy payable to its beneficiary on the death of the insured.
money which has to be borrowed at a high interest rate, and so restricts expenditure by companies.
Distance or period during which a for-hire vehicle is traveling without generating revenue for its owner.
Period that does not count toward a purpose, such as a worker's time spent at a job site but not used in computation of his or her wages.
Average number of days a firm takes to convert working capital into sales revenue. Fewer the number of days, more efficient the use of working capital. Formula: Average working capital x 365 ÷ sales revenue.
Date by which a payer bank will honor a draft drawn against a letter of credit (L/C). A L/C marked 'Thirty days sight,' for example, means the draft will be honored thirty days after presentment.
