Question

Money held and assets and liabilities to be
received or paid in fixed or determinable
amounts of money
Current items
Non-monetary items
Monetary items
Forward Exchange Contract​

Answer 1

Answer:

Monetary assets are assets that carry a fixed value in terms of currency units (e.g., dollars, euros, yen). They are stated as a fixed value in dollar terms even when macroeconomic factors, such as inflation, decrease the purchasing power of the currency.

Answer 2

Monetary items are the money held in assets and liabilities to be received/paid in a stable money amount.

• Financial items are the ones having a stable price like dues, cash and its equivalents.
• These are characterized as units of cash held and resources and liabilities to be received or paid in a fixed or definite quantity of units of currency.

• Most basic examples of monetary elements incorporate exchange receivables and payables or credits.