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glossary of business terms


N

Net
On financial statements, net refers to net profit, which is the gross profit less all operating expenses. On invoices, net is used to express when the entire amount is due in terms of number of days; for instance, net 30 means the money is due 30 days after the invoice date.

Net Lease
A lease in which the store owner pays for some costs in addition to the basic rent.

Niche Store
A small specialty store that focuses on a specific category.

NSF
An abbreviation for nonsufficient funds; what banks will stamp on checks that don't clear, meaning not enough money was in the account.