Two key characteristics of these assets include:
Change in real terms: Monetary assets are fixed in their dollar terms but are subject to changes in real terms, i.e., a relative change in buying capacity. For example, a sum of $100 can only buy you 2 dozens of apples now, compared to 3 dozens previously. This means that there has been a decline in real terms amounting to 33%, even though the dollar amount remains the same.
Restatements in financial statements: Monetary assets are not subject to a restatement of their recorded value in financial statements. A non-monetary asset like land may be subject to depreciation or appreciation, depending upon