Category: O

On this date, payment is necessary for reservation purposes.

Statements that are given orally by an attorney, either in defense of a client or to rebut the opposing party?s statements.

Sale of assets without pressure to sell as quickly as possible or to accept whatever offers are made. See FORCED SALE.

Company resolution that involves unexceptional company business and requires only a simple majority vote to be passed, without prior notification of the proposal.

The most famous cartel in the world, made up of 12 major producers of petroleum (constituting about 40% of global oil exports). It was created in 1960, to fix crude oil prices

This process entails staffing and resource allocation to immediate and long-term goals, and is one of the most vital responsibilities of a management team.

To commence existence.

A record of a company?s debt obligations that don?t pay out interest on the loan?s principal amount.

Money that the company must pay out (e.g. salaries, supplies, rents, taxes). Hopefully, the total outbound cash flow will be less than inbound cash flow (i.e. money coming into the business).

A market analyst recommendation that means a stock will generate slightly better returns than the market as a whole.

Credit balance in a factory overhead account, caused by over-estimating the cost of overheads in a given period.

Describes the bit of roof that extends beyond an exterior wall.

The risk that a seller in a different time zone might not fulfil their obligation, which the buyer will only discover on the following trade day. The greater the time zone difference,

Medicines that can be purchased from a pharmacist without prescription.

Code that is outputed by the compiler program. Similar to the machine code sometimes, it is usually in a form that requires translation by another program.

The noncompliance with the legal system by interfering with (1) the law administration or procedures, (2) not fully disclosing information or falsifying statements, and (3) inflicting damage on an officer, juror or

Assets or liabilities that have yet to be realized and hence do form a part of the balance sheet. it is included in the balance sheet only when it becomes actual.

A taxpayer can pay an amount less than the amount owed for tax liabilities, under this agreement between the IRS and the taxpayer. This only comes into effect if the IRS gets

The duties and responsibilities that accompanies one’s position in office. It differs from moral responsibility in the sense that more than one individual cannot hold an official responsibility and it can thus

A country or area that has few restrictions on businesses located there and negligible income tax, which is different from an individual’s home country. Offshore havens provide various services such as international