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Term: Accounting -> Nominal Ledger
Term:

Nominal Ledger

Definition:

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 include a control account to show the total balance of the subsidiary ledger (a control account can be termed 'nominal' because it doesn't relate to a specific person).

Related terms:

Accumulated earnings

Net asset value
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