|National Debt: Money that
the U.S. Government has borrowed by selling
T-Bills and Bonds.
|Naked Option: The situation
in which an investor has purchased a put or call,
but does not own any shares. If the share price
rises, there is the potential for great gains,
without having to invest large sums of money to
actually purchase shares. However, if the price
drops and the investor has to replace the shares
"borrowed" for the transaction, the cash outlay
can be huge.
|Nasdaq: The National
Association of Securities Dealers Automated
Quotation system. The largest stock exchange in
|National Association of
Securities Dealers, Inc. (NASD): The largest
self-regulatory organization for the securities
industry in the United States. NASD is responsible
for the operation and regulation of Nasdaq and the
over-the-counter securities markets; it is the
parent company of NASD Regulation, Inc., and The
Nasdaq Stock Market, Inc.
|Nationalization: Action by
the government to acquire ownership in a company
|NAV: The net asset value,
what one share is worth, of a mutual fund.
that can be easily transferred to another form.
|Net Lease: Lease in which
the tenant agrees to pay the landlord or owner a
basic rent and also agrees to pay separately for
all maintenance, operating, and other building
expenses. Called a triple net lease when all taxes
are passed on to tenet, plus a percentage of
sales. Many shopping centers operate this way.
|Net Tangible Assets: An
accounting term defined as stockholders' equity
|Negotiate: Bargain with
another over price or terms.
|Negotiable Instrument: A
document, promising to pay an amount of money to
another individual or business, that can be
transferred to some- one else and still be valid.
A check is the most common form of a negotiable
|Net Present Value: Today's
discounted value of a string of cash inflows in
|Net Sales: Gross sales
minus such costs as cash discounts, shipping
charges, and inventory returns.
|Net Worth: An individual's
or business's total asset value minus all
|No Par: Stocks issued
without a specific face value.
that issuers cannot redeem before the date of
|Non-conforming Use: Changes
in zoning requirements that occur after a
structure has been built and is in use and that
now make the structure noncompliant. A
non-conforming use permits continued use of the
structure, but requires that any future changes to
it be approved by the zoning board.
|NOW Account: Negotiable
order of withdrawal, commonly called interest
checking. A checking account that pays you
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