A series of equal payments with each payment occurring at the end of each equally spaced period.
Ordinary income
Defined by the Internal Revenue Code to include salaries, fees, commissions, interest, dividends, and many other items. Taxed at regular tax rates, contrasted with long-term capital gains, which receive more favorable tax treatments.
Ordinary interest
Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference between the two types of interest can be significant when a substantial investment is involved.
Ordinary loss
For income tax purposes, a loss that is deductible against ordinary income. Usually more beneficial to a taxpayer than a capital loss, which has limitations on deductibility.
Organic
A chemical or fertilizer which is obtained from a source which is or has been alive. Also the general term used for a type of gardening using no chemical, synthetic fertilizers or pesticides.
Organic adhesive
A prepared organic material, ready to use with no further addition of liquid or powder, which cures nor sets by evaporation.
Organic felt
An asphalt roofing base material manufactured from cellulose fibers.
Organic gardening
The method of gardening utilizing only materials derived from living things. (i.e. from composts and manures).
Organic material
Any material which originated as a living organism. (i.e. peat moss, compost, manure).
Organic matter
plant and animal residues, or substances made by living organisms.
