Stock Market Terms By Letter: N

National Debt: Total debt of the government of a country.

Near Money or Quasi Money or Near Cash: Assets which are very easily converted into cash, e.g. Call Money, Short Deposit, etc.

Nett Present Value (NPV): The sum of the discounted cash flows and investment. See Present Value.

Net Assets: The Total Assets of a firm less its Total Liabilities. Equivalent to the Shareholders Equity (US terminology = Net Worth). This is usually computed on a per share basis and is known as Nett Assets Backing Per Share or NAB.

Nett Tangible Assets: The Nett Assets less all the Intangible Assets. This is usually also computed on a per share basis and is known as Nett Tangible Assets Backing Per Share or NTA.

Nett Current Assets: Current Assets less Current Liabilities.

Nett Worth: See Nett Assets.

Nominal Price: An average of bid and offer prices. It is quoted when no actual trading takes place during a trading session.

Nominee: A party which represents another. For example, shares are often held by nominee companies to either disguise the beneficial owner or for ease of management.

Notes To Accounts: A series of notes that explain in detail certain parts of the Balance Sheet and Profit and Loss account so as to clarify the raw figures provided.