Okay, since now we know what is the origin of OK (I like the Oll Korrect version), I have another question about it's relative:
What is an "Oki-doki" or "Oki-dokie" or "Okay-dokay"?
What is the correct spelling? Where did it come from?
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I think it's a moot question, really. The etymology of the term is disputed, however, current usage is invariably synonymous with the adjective 'alright'.
I recommend using 'alright', 'satisfactory' or another 'grown-up' equivalent in formal or academic settings, 'okay' in informal or dubious communicative spheres, and owt you fucking like in those circles where you can get away with it.