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Stephen L. Nelson

Author. Accountant. Aspiring Apiarist.

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Business and Investing Terms – N

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.

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