Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: N

NEGATIVE SUM GAME

Decision theory’s ‘lose-lose’ situation. All participants lose as the negatives or losses outweigh the positives or winnings, and no one leaves with anything positive or any winnings. Also refer to positive sum

NESTED

1. Each member is contained in or contains the next items in a set forming a chain, hierarchy, or sequence. 2. Different sized hollow articles, like boxes, a the smaller one placed

NET CONTRIBUTION

After subtracting all necessary deductions, this is the amount that remains.

NET INCOME MULTIPLIER

An asset’s worth as an amount, calculated over time, measuring the asset’s income produced.

NET MIGRATION RATE

People moving into a country counted minus people moving out of the same country counted. High migration counts (in) or emigration counts (out) can cause unemployment problems in specific areas as either

NET QUICK ASSETS

After operating expenses are deducted, conversion to cash easily occurs with these valued instruments.

NET TANGIBLE ASSETS PER SHARE

Recognized revenue amount in a company’s preferred stock holdings. The revenue amount is based on how much calculated profit over a company share count holdings.

NETWORK ARCHITECTURE

Computer network design. Mapping hardware, software, protocols, and devices. Outcome is successfully allowing different systems and devices to inter-communicate.

NEW FEDERALISM

Under the Nixon administration, this new plan transferred back to the state level some powers previously held by the federal government. Some powers were removed from the state level under Franklin Roosevelt’s

NEWLY ACQUIRED AUTOS

The insured must notify the insurer about a newly purchased vehicle within 30 days from purchase date. Some coverage automatically activates under the policy for vehicles purchased during the term of the

NFP ACCOUNTING STANDARDS

The Financial Accounting Standards Board (FASB) and the Government Accounting Standards Board (GASB) regulate these standards.

NITROGEN FIXATION

Natural process that takes free nitrogen (N2) from the air, converts or fixes it in nitrogen compounds that plants use as nutrients, as in fertilizer. In nature, certain bacteria present in the

NO RIGHT

Opposite of having privilege. A right is not exercisable under this condition or state.

NOMINAL ANNUAL RATE

An investment or debt instrument’s stated annual interest rate. Does not include a compounding component and is not adjusted even if the return is paid monthly, semiannually or annually. Also known as

NAIVE FORECASTING

Without adjusting or establishing causal factors, using the last period’s actuals to estimate this period’s forecast by this unremarkable technique. Used only to compare against forecasts generated by better, more sophisticated techniques.

NASDAQ STOCK MARKET

Major US over-the-counter (OTC) electronic stockmarket owned by National Association of Securities Dealers (NASD). This market now includes American Stock Exchange (AMEX) and Philadelphia Stock Exchange (PHLX), and operates London-based NASDAQ International

NAUTICAL MILE

Distance measuring exactly 1852 meters or 6076.11 feet. One nautical mile equals 1.15 miles or 1.85 kilometers. By a 1920 international agreement, it replaced the British Nautical mile (6080 feet) and US

NEGATIVE CONVEXITY

Callable bonds’ principal is returned (1) before maturation in a declining interest rate environment or (2) after maturation in a rising interest rate environment. The first situation may require reinvesting the principal

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