OCCUPANCY
PERMIT
- A permit issued by a municipality allowing the premises to be
occupied
for the uses intended.
OPERATING
COST - Expenditures
arising out of current business activities (what it cost you to do
business
such as; salaries, electricity, rental etc.).
OPERATING
LOAN (or REVOLVING
LOAN) - A short term loan to finance working capital needs-that is,
accounts receivable and inventory.
OPERATING
LOAN PAYDOWN
- The amount of surplus cash to be applied against your operating
loan. For example, if you collect $ 1,000 of your accounts receivable,
you pay this amount.
OPERATING
RATIOS -
The relationship of costs from business activities.
OWNER
MANAGER - Person
who owns and operates a business.
OWNER'S
DRAWING ACCOUNT
- Is a separate account under Owner's Equity to record
the decrease
to OE as a
result of withdrawals of assets for the personal use of the owner.
OWNER'S
EQUITY - The
claims of the owner against total economic resources is called Owner's
Equity.
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