Which of the following items is a non-monetary asset?
A) Loan
B) Inventories
C) Accounts receivable
D) All of the above are non-monetary assets

Question

Quizplus · Accepted Answer

Non-monetary assets are those that do not have a fixed or determinable value in terms of money. Loan and accounts receivable are monetary assets because they represent amounts of money owed to the entity. Inventories, on the other hand, are non-monetary assets because they represent physical goods that the entity holds for sale or for use in providing services.

Which of the Following Items Is a Non-Monetary Asset