October 1, 2018

Glossary

Glossary

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There are 13 names in this directory beginning with the letter N.
Name Reservation
The name of a corporation or LLC must be distinguishable on the records of the state government. If the name is not unique, the state will reject the articles of incorporation or articles of organization in the case of LLCs. A name can be reserved, usually for 120 days, by applying with the proper state authorities and paying a fee.

National Association of Securities Dealers Automated Quotations (NASDAQ)
A computerized system that facilitates trading and offers price quotes for the most actively traded over-the-counter (OTC) securities.

Net Income
Total revenue minus total costs, expenses and taxes.

Net Worth
The amount of asset value exceeding total liabilities.

New York Stock Exchange (NYSE)
The oldest and largest stock exchange in the U.S. The NYSE lists many of the country's largest corporations.

No-Par-Value Stock
Stock with no minimum value. Most states allow no-par stock.

Noncontributory Retirement Plan
A pension plan that is funded only by employer contributions with no employee contributions.

Nonforfeitable Benefit
In an employee benefit plan, a benefit that is payable upon any occurrence listed in the employee contract and cannot be forfeited.

Nonqualified Plan
An employee benefit plan that does not meet the requirements laid out in Section 401(a) of the Internal Revenue Code and, therefore, is not qualified for favorable tax treatment.

Not-For-Profit Corporation
A corporation organized for some charitable, civil or other social purpose that does not entail the generation of profits for shareholders. These corporations receive special tax treatment. Not-for-profit corporations must file not-for-profit articles of incorporation with the state.

Notary Public
A public officer who can authenticate signatories on documents and take depositions or oaths, authorized by a particular state or jurisdiction. Banks, insurance agencies, legal offices and government buildings often have notaries public on staff.

Note Payable (Promissory Note)
Written promise made by one party to another to pay a specific amount on demand or by a definite date.

Note Receivable
Written promise by one party to make payment to another party at a specified date.