Nominal Accounts: Accounts that are closed to a zero balance at the end of each accounting period: temporary accounts generally appearing on the income statement.

 

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Nominal Accounts: Accounts that are closed to a zero balance at the end of each accounting period: temporary accounts generally appearing on the income statement.

Nominal Ledger: A ledger which holds all the nominal accounts of a business. Where the business uses a subsidiary ledger like the sales ledger to hold customer details, the nominal ledger will usually inclu . . . View Full Definition

Nominal Impedance: The minimum impedance a loudspeaker presents to an amplifier, directly related to the power the speaker can extract from the amplifier.

Nominal Income: Income that has not been adjusted for inflation and decreasing purchasing power.

Nominal Interest Rate: The stated interest rate in a note or contract, which may differ from the true or effective interest rate, especially if the lender discounts the loan and advances less than the full amount.

Nominal Group Technique: A consensus planning tool used to identify the strengths of an organization, department or division, whereby participants are brought together to discuss important issues, problems and solutions.

Nominal Exchange Rate: The actual foreign exchange quotation in contrast to the real exchange rate, which has been adjusted for changes in purchasing power.

Nominal Cash Flow: A cash flow expressed in nominal terms if the actual dollars to be received or paid out are given.

Nominal Damages: Monetary damages of a token amount awarded for a wrongful act where no loss occurred.

Nominal Dollars: Dollars that are not adjusted for inflation.