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 than the work in progress will incur, it is said to be overapplied. This is reported in balance sheets as unearned revenue, and is balanced in the end of year accounts by adding a credit to the Cost of Goods Sold column.
When company invests more than it has to in a production unit to produce a superior product.
The practice of selling more tickets for a flight or concert than can be accommodated, to avoid empty seats caused by ?no-shows?.
L. Fr. Equal.
In old English law. Equality.
In conveyancing, the word “over” is used to denote a contingent limitation in- tended to take effect on the failure of a prior estate. Thus, in what is commonly called the “name and arms clause” iu a will or settlement there is generally a proviso that if the devisee fails to comply with the condition the estate is to go to some one else. This is a limitation or gift over. Wats. Comp. Eq. 1110; Sweet
Additional work discovered during the completion of a contract that falls within the scope of the project, is necessary for the project to be completed, but is not covered by the terms of the contract.
A situation in which a company has generated too much capital. This devalues the company?s assets and earnings become insufficient to pay dividends and interest. This problem is usually solved by buying back shares or paying off debt.
When an ownership has no controlling interest.
An individual whose insurance coverage is worth more than the item(s) being insured.