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what are fictious assets? give some examples?
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Answer Posted / bhaskar
Fictitious assets-fictitious assets are deffered revenue
expenditure whose benefit is derived over long period of time.Even
accumalated losses are also fictitious assets as they are written
off over a period of time.All fictitious assets are intangible but
all intangible assets are not fictitious.ex
goodwill.patents,trademarks,copyrights are intangible but not
fictitious.following are the examples of fictitious assets are-
preliminary expenses,discount on issue on debenture and
shares,underwriting commission,miscellaneous expenditure,profit
and loss(dr).
| Is This Answer Correct ? | 146 Yes | 32 No |
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