OUT-OF-THE-MONEY OPTION is an option that has no intrinsic value; for example, an option whose strike price, in the case of a put, is lower than the stocks current price, or in the case of a call, is higher. An investor who buys an out-of-the-money option is speculating that the option will rise in value and become in-the-money. See IN-THE-MONEY OPTION.
QUICK ASSETS is current assets minus inventories.
PERVASIVE is having the ability to permeate. An error is pervasive if it is material to more than one of the primary financial statements.
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