- negotiable
- Capable of being transferred from one party to another. Checks, drafts, securities, and commercial paper are negotiable.
- net-asset value
- The total value of a share in a mutual fund. The net-asset value is what each share would be worth if all shares were suddenly paid out.
- net worth
- The total value of the assets of a business less its liabilities.
- no-load fund
- A mutual fund that charges no sales commission.
- nonrecourse
- Refers to the lack of a legal claim against a party to a contract. In a nonrecourse arrangement, one or both parties are not liable if the contract is not fulfilled. The “wronged” parties, therefore, have no recourse to the law.
- notary public
- A public officer who attests to the authenticity of deeds, affidavits, and depositions.
- note
- A written promise to pay a debt or sum of money.
- notes payable
- In a general ledger, an account showing the business’s liability for promissory notes.
- notes receivable
- In a general ledger, an account showing the business’s promissory notes received from customers.