Category: O

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

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

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

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

An operating system that utilizes objects in its user interface or programming language.

The workplace surroundings that encompasses the physical and social environment.

A product that is usually offered at a lower price during a period of minimal demand.

An insurance policy with a low limit that insures office equipment and supplies against robbery or loss.

A test used to determine if an unstated condition was originally implied at the time of writing the contract. In the method, an investigator tries to determine if the contracting parties had

A trust that is set up in a location, usually another country, different from the trustor’s location.

Economies having their roots in the Industrial Revolution and the bulk manufacturing of physical goods, whose objects are valued based on their physical properties. These include the energy sector, the steel and

This is when a securities broker funds a portion of a client’s purchase, with the client paying the rest. The broker keeps the purchased securities as collateral.

1. A device that is connected to the Internet or other network. 2. Documents, files or web page that are accessible for reading and downloading by users of a particular network (usually

A concept that sees decision making as the next logical step of a specific process. If a decision has been made, an action has to be taken.

This is a court session that anyone can attend, if they wish.

A market in which prices are controlled by supply and demand, rather than government policy or independent cartels.

An agreement between countries that enables unrestricted overflight and landing rights to each other.

The stock owned by a business at the start of an inventory keeping period.

Footnote reference term, referring to a title previously cited in another footnote.

Plastic disks (e.g. CDs, DVDs) used for storing and writing data. These disks can be read and written onto by laser devices.