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yes

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Nominal account

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In this context it means or implies "very little." "Nominal" means "in name only"--that is, technically there's a charge, but it doesn't really amount to anything. It's minimal. It's a token amount.

Be a bit cautious, though. Your idea of "minimal" or "very little" might not be the same as that of whoever is doing the charging.

In that context, nominal means small, as in low cost.

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The opportunity cost of holding money is the nominal interest rate.

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yes it is. it is an income statement account

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