MANAGEMENT

Detailed explanation-1: -A nonmonetary asset refers to an asset that a company holds that does not have a precise dollar value and is not easily convertible to cash or cash equivalents. Companies categorize nonmonetary assets as either tangible assets or intangible assets.

Detailed explanation-2: -Monetary assets are easily converted to a dollar value since they can be quantified into a fixed or determinable dollar amount. Non-monetary assets, on the other hand, are not easily converted into cash or cash equivalents because they are subjective in their valuations.

Detailed explanation-3: -Non-Monetary incentives are non-cash perks or benefits provided by an employer to an employee. Examples of non-monetary incentives include extra time off, work flexibility, and experiential rewards.

Detailed explanation-4: -This statement is False. In the books of accounts, only financial transactions are to be recorded. Means non-monetary transactions are not be recorded.