how ficticious assets are valued??



how ficticious assets are valued??..

Answer / haresh barot

when company incures any expenses(advertisment)and the
benefit from the adv. is availed for more than one year
then the remaining part of expenses is consider as an
asset. like 500000 exp. benefit 5 years. so, first year
exp. will be rs. 100000 only will be shown on p & l acc.
debit side and 400000 will be shown as fictitious asset on
asset side in balance sheet.

Is This Answer Correct ?    16 Yes 0 No

Post New Answer

More Audit Interview Questions

what will be the entry in tally if some one make a will to some one from his bank?

6 Answers  


What is Esi ,Pf,and Payroll?

2 Answers  


I have had a Accounting experience more than 20 year in General Accounting, Traveling & Tourism, and Air lines. Can I change my Job from Accountant to Auditor- Please give me right advise.

3 Answers   Accenture,


central excise all question

0 Answers   TATA, Vijaya Aero Blocks,


What is the Difference between Current Assets and Fixed Assets and how would you classified it

19 Answers   GET Engineering Construction,






what is the difference between capital and revenue expenditure

7 Answers  


what do you c- form means

4 Answers   Arihant, Genpact,


what is convectional audit

1 Answers  


hi friend i have selected in ssc cgle as accountant in audit department. can anyone tell about the work of accountant in audit department?

0 Answers  


Required ecc no of pan number AABCU0139q

1 Answers   Lloyds,


what is monthly closings.

1 Answers   OPI Global,


i read in andhra bank recruitmentin that i saw english languages marks are eligible what is that eligible mark

0 Answers  


Categories