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

Category: Finance

OPEN JAW TICKET

A ticket that covers travel from the port of departure to one destination, and return travel to the port of departure from a different destination (e.g. Newcastle-Melbourne / Perth-Newcastle). The passenger is

OPEN SHOP

Open shop firms may be any of the following: 1. Firms that don?t require employees to be members of a union, 2. Firms that refuse to deal with unions, 3. Firms where

OPENING ENTRIES

The first bookkeeping entries of a new firm, account or accounting period.

OPERATOR

1. Any person or a device that enables another device to function. 2. A function used in mathematics, usually given a symbol (such as + or -). 3. In telecoms, one might

OPTICAL DATA STORAGE SYSTEM (ODSS)

Any system that enables the storage of digitized data on magnetic media (e.g. CDs, DVDs), with database indexing so that data can be retrieved online.

OPTION PRICE

The price to be paid by an investor for an option contract, based upon the security of the underlying asset and the time left until the option expires.

ORGANIC

1. Similar to a living organism, with clear and functional internal structure and consistent life cycle of birth, growth, decay, and death. 2. Compounds (natural or synthesized) that contain carbon.

ORGANIZATIONAL CAPABILITY

Resources at an organization?s disposal, including human resources, material resources, financial resources, information resources and intellectual resources.

ORGANIZATIONAL STRUCTURE

A typically hierarchical framework of authority, accountability, communication, and allocation of responsibility. Organizational structures should reflect the goals of the organization if they are to be successful.

ORTHOGRAPHIC PROJECTION

Used in elevations, floor plans and drawings of building sections, orthographic projections are 2D isometric views of a 3D object at right angles to the views and lines of sight, drawn to

OUTPUT

1. Products, services, work or energy that is produced by a company, machine or individual in a given period. 2. Computing: Information suitable for transmission from a computer to external devices; transferring

OVERAPPLIED OVERHEAD

1. The amount by which an overhead has been over absorbed. Added to budgeted profit in end of period accounts. 2. When the overhead applied to a work in progress is more

OVERHEAD BUDGET

A combination of direct and fixed labor costs involved in the manufacture of a product.

OVERREACHING

A legal process that converts interest in one asset to interest in another.

OVERTIME SCHEDULED

Overtime that has been planned ahead of time, to facilitate early completion of a job, or to provide ?out of hours? support.

CYPHERTEXT

Text or a message that is encrypted into a coded human unreadable form. The input must be decrypted to be read once recieved. It is also written as ciphertext.

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