NOMINAL INTEREST RATE Definition

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NOMINAL INTEREST RATE is the stated, or named, interest rate in a note or contract; the nominal interest rate may differ from the true or effective interest rate. See EFFECTIVE INTEREST RATE.

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MONTHLY is: a. Once a month; every month; from month to month; or, b. Done, produced, or occurring once a month. 

AUDIT SCHEDULES are the information formats developed by the external auditors to guide the corporation in the preparation of particular information presented in a particular manner that facilitates the audit. These should always be completed by the corporation prior to the start of the audit.

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