All of the following are non-monetary assets except
A) goodwill.
B) patents
C) inventory.
D) accounts receivable.

Question

Quizplus · Accepted Answer

Non-monetary assets are assets that are not in the form of currency and cannot be readily converted into a fixed amount of money within a short period of time. Goodwill, patents, and inventory are examples of non-monetary assets because their value does not represent a right to receive cash or another financial asset. Accounts receivable, on the other hand, is a monetary asset because it represents a fixed or determinable amount of money that the company expects to receive from its customers.

All of the Following Are Non-Monetary Assets Except