Category: O

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.

The amount a buyer pays and seller receives for granting the right to an option for a specified period of time.

A contract agreed verbally, but not in writing, the existence of which can be difficult to prove as a result. If an oral contract can be proven to exist, it may void

Typical, everyday occurrences.

The vertical axis of a chart / graph (i.e. the ?y? axis).

Actions and attitudes of individuals, groups and structures within an organization that can affect its function and performance.

The way in which new employees adapt to the prevailing culture within an organization.

This company writes loans for multifamily / commercial properties.

Money borrowed without security or contributed my minority shareholders. Acronym is pronounced ?opium?, to reflect the power it can have over people who forget it must be paid back.

Evaluation of results of a process, activity or a plan, to be compared with expected results.

Facility that is far from the main plant.