Open Shop, Open Stock, Operating Budget, Operating Cycle

Open Shop, Open Stock, Operating Budget, Operating Cycle :

Open Shop : An organisational policy under which every worker is free to become the member of union and even if he don’t go for it he is treated in same manner as union worker is treated but although getting most of the rights he can’t complain against any policy adopted by his seniors or other union members. See also closed shop, right to work, union shop.

Open Stock : The ready stock that is maintained by seller with a purpose of selling.

Operating Budget : Estimation of expected cost which is going to occur while operating business functions during a financial year.

Operating Cycle : A cycle under which cash or other assets are converted into stocks with the purpose of selling. Selling for cash or assets of similar nature. The process of buying material converting it into final goods and selling them.

Open Shop

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