A non-monetary item; a liability that is not a monetary liability. It is a liability that is not in a monetary form: it has a non-monetary value. In other words, the value of such a liability is not a fixed exchange cash amount. Examples of non-monetary liabilities include warranties payable (warranty service on products) and other obligations that need to be extinguished or met using no monetary amounts. Instead, such liabilities are payable in services and other non-monetary means. Other forms of non-monetary liabilities are those that by nature adjust an expense (such as deferred income tax credit). In general, they arise from the payment or receipt of advance consideration (e.g., liability for rent collected in advance).