Monetary Item Definition | Becker

Accounting Dictionary

Monetary Item

 

  1. A monetary asset or liability is an asset or liability that is fixed in dollars regardless of changes in specific prices or changes in the general price level (cash, accounts and notes receivable, etc.). See also nonmonetary item. Money or a claim (an obligation) to receive (or pay) a sum of money, the amount of which is fixed or determinable without reference to future prices of specific goods and services.

 

Related Terms:

Nonmonetary Item [FAR]Back to Dictionary

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