Nominal Account
Nominal accounts are temporary accounts used to record income, expenses, gains, and losses during a period. They are closed at the end of each accounting period, and their balances are transferred to retained earnings. For example, it include rent expense, service revenue, and interest income.
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Net Present Value (NPV)
NPV is a financial metric that calculates the present value of future cash flows, discounted at a specific rate, minus…
Non-monetary Asset
A non-monetary asset is an item that cannot be readily converted to a fixed amount of cash, such as inventory,…
Normal Balance
A normal balance is the expected debit or credit side where increases in an account are recorded. For example, assets…
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