Category: O

Term used in auto insurance to cover a family member who is not the holder of the insurance.

The highest amount a healthcare policy holder pays before his insurance begins to cover healthcare expenses.

1. The shape or boundary of an item or object. 2. A list of the key items in a document or plan, presented in the order they appear in the main document,

A tax added to the selling price of goods / services and paid by the consumer (e.g. VAT).

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

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

1. Trading in a foreign market when the local market is closed. 2. The time between today?s check-in time and tomorrow?s check-out time in hotels.

The amount of goods in excess of immediate demand. Oversupply results in lowering of prices, reduced profits and increased costs from storing excess inventory.

Company revenue taken by the owner for personal use.

The allocation of funds that is dependent on past practices or objectives that were predetermined, instead of a random or arbitary assignment.

The amount at which transactions such as order placements, buying and selling of goods take place.

This limit or standard is the maximum permissible limit of a hazardous substance in the work environment to which the employees are continually exposed.

The rule states that the limitations period begins at the time that an accident or an incident occurred, and not when it was reported or realized.

A percentage of the total coverage amount that is in effect at a location that is not covered in the details of the policy

The recording of equipment transactions as a debit or a credit in balance sheet statements taking depreciation costs into effect.

1. A person or a group of individuals who are tasked with assuming the responsibility for the control and regulation of an activity that is fair to all participating parties. They are

Countries such as Singapore, Luxembourg, etc which offer little to no government interference in the activities of legitimate business owners and financial institutions. OFC’s offer very low income tax rates, often zero

A harbor located in the middle of the sea to accommodate giant tankers and as such they are equipped with the tools and machines to load, receive and store oil

An account held in the name of a Futures Commission Merchant (FCM) that combines the transactions of two or more other individuals. Compare with Fully Disclosed Account.

A plaintiff should only receive one remedy for any particular claim. If multiple remedies are available, the plaintiff must choose one, or divide restitution amongst the available remedies.