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FINANCIAL DICTIONARY & GLOSSARY: NA - OD
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negative yield curve - arises when short-term interest rates are higher than long-term ones.

net assets - fixed assets plus the difference between current assets and liabilities.

net book value - the value of an asset; under historical cost accounting, its purchase price minus accumulated depreciation charges.

net national product - GNP minus an allowance for depreciation.

net profit - the excess of all revenues and gains in a period over all expenses and losses.

net realizable value - the amount that could be raised by selling an asset (less the costs of sale).

night safe - a safe set in the wall of a bank in which business customers can deposit money in the evenings and at weekends when the bank is closed.

nominal GNP - the figure for gross national product that does not allow for inflation.

nominal value or par value or face value - the amount written on a share certificates showing how much capital it represents.

nominal yield of a bond - the rate of interest stated on the bond document.

nominee - a person or company holding securities for someone else who wants to remain anonymous.

non-current assets - those that will not be consumed or turned into cash, but will be retained for more than one accounting period.

normative economics - deals with ethical issues and value judgments such as tax and welfare rates, the distribution of income, etc.

notes receivable and notes payable - on a balance sheet, refer to promissory notes: written promises to pay a stated amount at a given time.

numbered account - secret bank account in which hardly anyone (or no-one) at the bank knows the account holder's identity.

objectivity principle - (in accounting) all data recorded should be verifiable and free from bias.

odd pricing or odd-even pricing - the practice of selling something at, e.g. 699 instead of 700, so that customers think of 600 rather than 700.

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