Category: O

1. Accounting: An account with an unpaid balance or one with a positive credit balance. 2. Commerce: The credit relationship that enables the buyer to pay on a deferred payment basis.

An agreement that does not restrict the quantity of products or services a consumer can purchase during the agreement period.

Type of insurance that provides compensation for property damage caused by any hazards not specifically excluded by the policy.

A bidding system that is not private. It is opened for all qualified bidders. Bids are then chosen openly, based on price and quality.

Legal owner of oil and gas rights, including revenues produced, but also responsible for operating costs.

The cost of using a resource to acquire one thing instead of another. As all resources can be used in multiple ways, using them in one way invariably involves some opportunity cost.

The price point at which maximum profits will be achieved.

An insurance contract that can be terminated by the insurer only on its anniversary or its due to date, but at no other point.

A court order, requiring an investigation into the amount owed as the result of an agreement between one party and another.

This sort of pension plan is funded by a trust. It provides death benefits through life insurance coverage plans. The insurance premiums are paid by the firm until the employee retires, when

A group of people, structured in a specific way to achieve a series of shared goals. Relationships within an organization are determined by its structure and are typically based upon role and

Systematic changes to the behavior and attitudes of an organization?s employees, through long-term training. An action-oriented process, OD begins with an analysis of current trends and the desired organizational culture. Techniques, such

B/L that is used when delivering a shipment or to file a claim for damaged or lost goods. Other copies are only for records.

Classification term that applies to costs not recorded as direct labor, direct material or overheads.

Unavailable for a short time because minor repair work is necessary.

A font that is based upon the mathematical formula for each character, that can be scaled to any size and makes use of a display or printing device?s full potential.

Additional work discovered during the completion of a contract that falls within the scope of the project, is necessary for the project to be completed, but is not covered by the terms

Paying more into a tax deductible retirement plan than is permitted for a given period of time. Usually, this results in a penalty to the contributor.

Repetition of learning beyond the amount required to retain the information.

The act of exaggerating facts.