UK Accounting Glossary
The word denomination has three distinct but closely related uses in a financial context. First, in a given currency, the denomination of legal tender specifies the face value of a given coin or note. In the US, there are four different common coins: the penny ($0.01), nickel ($0.05), dime ($0.10), and quarter ($0.25), and each is one denomination. Similarly, the $1, $5, $10, $20, $50, and $100 notes are each another denomination. The second meaning of denomination applies to most securities. For example, a bond’s denomination is its par value, such as $1000. A third use of the word denomination is currency denomination, for a description of situations when the type of currency itself is under consideration. For instance, a company must decide to price goods for export in the denomination of one country or another.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Denomination are sourced/syndicated and enhanced from:
This glossary post was last updated: 7th February 2020.