What is the full form of "MOU"?
A. Mail Order Unit
B. Market Order Understanding
C. Money Order Unit
D. Memorandum of Understanding
Answer: Option D
Solution(By Examveda Team)
"A memorandum of understanding (MOU or MoU) is a formal agreement between two or more parties. Companies and organizations can use MOUs to establish official partnerships. MOUs are not legally binding but they carry a degree of seriousness and mutual respect, stronger than a gentlemen’s agreement. Often, MOUs are the first steps towards a legal contract. In US law, a memorandum of understanding is synonymous with a letter of intent (LOI), which is a non-binding written agreement that implies a binding contract is to follow."Related Questions on Business Abbreviations
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A. Business Consortium
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C. Banking to Commodity
D. Business to Consumer
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A. Sales Exchange Board of India
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D. Securities and Exchange Board of India
What is the full form of "PLR"?
A. Profit Lending Rate
B. Prime Lending Rate
C. Private Lending Ratio
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What is the full form of "OPEC"?
A. Organisation of Petroleum Exporting Countries
B. Average Annual Growth Rate
C. Sensitivity Index
D. Indian Oil Corporation
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