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Monetary Accounts are essentially the same as Non-Monetary Accounts. true or false

Monetary Accounts are essentially the same as Non-Monetary Accounts.
true or false
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Answer #1

False:

Monetary Accounts are accounts of monetary assets and liabilities. while Non monetary accounts are the accounts of Non monetary assets and liabilities.

Monetary assets are such as: cash balance, bank balance, Fixed deposits, accounts receivables and notes receivables which have pre determined cash value. while the non monetary assets are property and market investments which do not have any pre determined value and their value can change significantly over time.  

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