Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

ORGANIC GROWTH

The rate at which a company will grow using only its own resources, without borrowing or buying other firms.

ORGANIZATIONAL COMMUNICATION

The study of communication within and between organizations. It considers the impact of communication structures on the individuals within those structures, and can contribute to effective management.

ORGANIZED CRIME

Long-term criminal activity conducted in a structured and systematic manner, with the aim of generating illicit income. The activities and techniques vary, often involving violence, theft, fraud and trade in illicit items

OTHER STRUCTURES

Structures that are covered by homeowner insurance, but that are not part of the main property (e.g. sheds, garages, gazebos).

OUTGO

Operating costs that exceed income generation.

OUTPUT GAP

The gap that exists between the actual GDP of a country and the GDP of the country at maximum capacity or efficiency. A negative output gap suggests improper allocation or use of

OVERHEAD RATIO

The amount of revenue that must be generated to cover the daily cost of manufacturing.

OVERRUN

1. A product (or print) run that exceeds orders for the finished articles. 2. A cost in excess of the budgeted amount.

OWN PRICE ELASTICITY OF DEMAND

The increase (or decrease) in the demand for a product, divided by the decrease (or increase) in its price, assuming other variables remain constant.

NOMINAL NATIONAL INCOME

The gross income of the population within a country expressed in the national currency. It does not factor in the reduction in purchasing power due to inflation or outstanding debt

NOMINEE DIRECTOR

An individual who is given the role of a non executive director on the firm’s board of directors, in place of another person, investor or financial institution. It also refers to a

NONADMITTED ASSETS

Disqualified assets such as furniture or fixtures, that cannot be listed on insurance statements due to a failure to meet state requirement

NONCASH EXPENSE

Non cash expenses such as depreciation where cash is not physically involved

NON-CONTRIBUTORY PENSION PLAN

Fringe benefits to the employee wherein he is not required to contribute and all related retirement plan costs are borne by the government and/or employer.

NON-DISABLING INJURY RIDER

The non coverage of disability of the rider by income policies. However, it grants for the payment of medical costs that arise due to a less severe injury that does not results

NON-EXPENSE CASH DISBURSEMENT

A legal accounting practice that does not show an expense of cash on the income statement. For example, due to the depreciation costs involved with machinery, the prinicipal cost on a piece

NON-LIABILITY

A non-liability becomes a liability only when it becomes payable. For example, the contraction of a previously non-liable loan principle makes it a liability, but the loan interest is granted the status

NONOWNED AUTO

A rented, borrowed or leased vehicle that is used primarily for business.

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