The two characteristics that must be possessed is transferability and utility.
We can describe "monetary value" as the property of having a material worth and this allows the transfer-ability of an assets.
- The amount that is paid in cash for an asset is referred to the monetary value of such asset.
- Money is one of the measure through which the monetary value on an assets is being exchange for the asset.
In conclusion, a monetary value must be transferable to other person and must be able to be used to carry out transaction at any time..
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