Category: O

Health insurance issued to a person over 65 years old (the usual limit).

1. A resource that is used up during a process, that is not part of the finished product. 2. Accounting: An expenditure or cost that (1) is related to either a specific

These are the interest rates charged by one bank to another for providing funds overnight.

Hours that are worked in addition to an employee?s usual working hours (depending on company rules, contracts, union agreements and the law).

The total sum of direct and indirect costs to the manufacturer on a product or service provided.

The agreement that allows the buyer to occupy a property beforethe deal is finalized. This is in consideration with the payment of a specified amount of rent.

The issuance of highly rated commercial papers is carried out by financial institutions through the use of this instrument. It is treated as a separate entity that is not registered on the

A public advertisement offering all individuals a reward, usually a monetary compensation in exchange for some valuable information that the individual is aware of.

The Federal reserve’s commentary that provides an explanation of the interpretations of regulations while acting as a guide to consumer’s exercise of rights. The format of the commentary follows that of a

Manufacturing or assembly at an offshore facility due its relatively cheaper labor and raw material costs. The finished goods are then imported into the manufacturer’s home country.

The gap between the potential and actual GDP of a country. If the actual output is higher, the gap is referred to as an inflationary gap. If it is lower, it is

On a bill of lading, this notation refers to goods carried on the deck (i.e. not in the hold), exposing the goods to water damage from rain and the sea. Letter of

This is a tax deduction that will normally only apply for one tax year. A homeowner may get a one-time only tax deduction in the year that they sell their house, for

Sales technique delivered at the consumer?s home or work-place. Typically involves product samples and demonstrations.

This is a contract the terms of which do not describe the entire agreement between the two parties involved, with clauses or provisions that can be modified without mutual consent (usually by

An accounting ledger record that covers a particular financial activity over a set period of time.

Seating plan that does not allocate seats to particular people. Typically, seats are available to whoever sits in them first.

This is an audible signal that indicates the start of the working day at an exchange. Ringing the bell is recognized as a privilege by celebrities and listed companies.

Designing and overseeing business operations that contribute to the achievement of the company’s overall strategy.

The scanning of printed text into characters that a word processor can recognize, removing the need to re-type printed text.