Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

OFFICE EQUIPMENT

Assets such as furniture and computers that are absolutely essential to the operations of the company

OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE

An executive department under the U.S government that handles matter related to the international trade policy. The USTR recommends trade policies and takes part in trade negotiations by working closely with the

OFFICE OF PERSONNEL MANAGEMENT (OPM)

A department for federal government employees that deal with human resources. The OPM provides valuable services such as recommendation of certain individuals for promotion, innovationin the field of human resource practice and

OFFICE OF MANAGEMENT AND BUDGET (OMB)

A executive agency under the federal government that works closely with the President to provide recommendations with regards to budgetary matters such as the preparation of the budget that will be reviewed

OFFICE AUTOMATION

The use of automated machines to carry out tasks that would otherwise require a person with clerical skills to communicate, document and complete tasks.

OFFICE VISIT

The services that are offered by the physician when a visit is paid to his office.

OFFICE SUPPLIES EXPENSE

The record of the transaction on the balance sheet that corresponds to the amount spent on the purchase of office supplies.

OFFICIAL DEVELOPMENT ASSISTANCE (ODA)

First compiled in 1969, this statistic is used by journalists and academic to measure aid and as an indication of the floor of international aid. The Development assistance Committee compiles the data

NOMINAL NATIONAL INCOME

The gross income of the population within a country expressed in the national currency. It does not factor in the reduction in purchasing power due to inflation or outstanding debt

NOMINAL PARTNER

A person who neither has ownership rights or active involvement in the firm’s affairs, but has a strong interest in the success of the partnership firm. Often a well known, well connected

NOMINAL QUOTE

A price quote on the value of a futures contract that has not been bid on for a long duration. Also referred to as nominal price, nominal quotation or subject quote

NOMINAL QUOTATION

An indicator stating the Buying or selling prices that is used for valuation purposes, rather than as a bid or offer.

NOMINAL RATE

1. Rate that does not factor in the effects of inflation 2. Rate that is charged on the gross value rather than on the net value

NOMINAL PARTY

An entity whose involvement as a defendant in a case has no bearing on the outcome. The entity is usually called upon due to court procedures mandating its presence in the case.

NOMINAL WAGE

Wage in current dollars, as an indicated of its purchasing power of goods and services. It differs from its true value.

NOMINAL VARIABLES

Also known as categorical variables or the variables in financial equations that are not dependent on the rate of inflation and other such factors.

NOMINAL YIELD

The income that is derived from a security.It is stated as a percentage of its purchase price.

Topic Archives:

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.