Comparative, or object, pronouns

Comparative, or object, pronouns are used in place of the object of the verb.

Open System

An open system is one that may have a transfer of both mass and energy with its surroundings.

OPEC (Organization of the Petroleum Exporting Countries)

An intergovernmental organization whose stated objective is to "coordinate and unify the petroleum policies of member countries." It was created at the Baghdad Conference on September 10–14, 1960. Current members (with years of membership) include Algeria (1969–present), Angola (2007–present), Ecuador (1973–1992 and 2007–present), Iran (1960–present), Iraq (1960–present), Kuwait (1960–present), Libya (1962–present), Nigeria (1971–present), Qatar (1961–present), Saudi Arabia (1960–present), United Arab Emirates (1967–present), and Venezuela (1960–present). Countries no longer members of OPEC include Gabon (1975–1994) and Indonesia (1962–2008).

Obtuse angled triangle

A triangle in which one of the angle is an obtuse (one angle > 90 degree) is called an obtuse angled triangle.

Overdue

Any amount due to the bank under any credit facility is ‘overdue’ if it is not

paid on the due date fixed by the bank.

Out-of-date (stale) cheque

A cheque, which has not been paid because the date written on the cheque

is a date exceeding three months from the time of its presentation.

Odd Number

Numbers which leave a remainder 1 when divided by 2 are called odd numbers

Objective Complement

When the complement describes the object it is called objective complement.

Objective Complement

When the complement describes the object it is called objective complement.

Originator

An organisation which collects payments from a customer’s account in line

with customer’s instructions.

‘Out of Order’ status

An account should be treated as ‘out of order’ if the outstanding balance

remains continuously in excess of the sanctioned limit/drawing power. In

cases where the outstanding balance in the principal operating account is

less than the sanctioned limit/drawing power, but there are no credits

continuously for 90 days as on the date of Balance Sheet or credits are not

enough to cover the interest debited during the same period, these accounts

should be treated as ‘out of order’.

Other Security Information

A selection of personal facts and information (in an order which the customer

knows), which may be used for identification when using accounts.

Objective Case

When a noun is used as the object of the verb, it is said to be in the object or accusative case

Cash credit/overdraft

Cash credit/overdraft is a form of credit facility in which a borrower is
sanctioned a pre- arranged limit with the freedom to borrow as much money
as he requires. In case of flow of credit to the account, he can withdraw
afresh subject to the limit sanctioned. As such, the limit works as a revolving
line of credit. Bank charges interest on the outstanding balances.

Overdraft

Refers to a system of bank lending, by which the borrower is permitted to draw cheques beyond the credit balance in his account, up to an agreed limit, and to pay interest only on the daily amounts by which the account is overdrawn.

Organization

Two or more people who work together in a structured way to achieve a specific goal or set of goals.

Opportunity Cost

Means the real cost of satisfying a want. It is expressed in terms of the cost of the sacrifice of alternative activities.

Open Economy

An economy, which is engaged in international trade. The degree of openness of an economy is appreciated by the rise of its foreign trade sector relative to its gross domestic product.

Open-ended Fund/ Scheme

An open-ended fund or scheme is one that is available for subscription and repurchase on a continuous basis. These schemes do not have a fixed maturity period. Investors can conveniently buy and sell units at Net Asset Value (NAV) related prices which are declared on a daily basis. The key feature of open-end schemes is liquidity.

ORE DRESSING OR CONCENTRATIONS

The removal of unwanted impurities by mechanical and other physical methods is known as ore dressing or concentration.