Anything that is valued as money. Monetary assets are cash and accounts receivable . Monetary liabilities are notes and accounts payable . These have a fixed exchange value with money unaffected by inflation or deflation. Money, and anything monetary gain or lose value only in terms of purchasing power . Rising prices lowers what money can buy. Monetary liabilities actually gain value when prices rise as their worth in money is at a time before prices rose.
Black’s Law Online Dictionary
