Inventory is an example of a nonmonetary asset.

Name: Inventory is an example of a nonmonetary asset.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Inventory is a physical asset that represents goods or products that a company plans to sell or use in its business operations. It is measured and reported in units or quantities, and its value is based on the cost of acquiring or producing the items. Therefore, it is considered a nonmonetary asset because it has a tangible nature and is not directly related to money.

Inventory Is an Example of a Nonmonetary Asset