what are fictious assets? give some examples?
- 39 Answers
- 302514 Views
- Capital IQ, Genpact, I also Faced
- E-Mail Answers
Answer Posted / rakesh
Asset created by an accounting entry (and included under assets in the balance sheet) that has no tangible existence or realizable value but represents actual cash expenditure. The purpose of creating a fictitious asset is to account for expenses (such as those incurred in starting a business) that cannot be placed under any normal account heading. Fictitious assets are written off as soon as possible against the firm's earnings.
Read more: http://www.businessdictionary.com/definition/fictitious-asset.html#ixzz3D1vJKBpL
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
Distinguish capital and Revenue receipts
what is article of association? what is memorandum of association?
How is the expenditure of developing a modified product treated?
Nature of training account with reason
Received an order from Babu for the supply of goods Rs.200/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
How does the ration analysis help in depicting profit and loss
im preparing for the sbi clerical post please send me the solved questions.
How can you actualize cah flows of 5 years at 8%
describe how accuracy in trial balance is a prime objective for preparing the financial statements?
What part can management policy play in the analysis of cost behaviour?
Expand---------NPTO
What are the names of the codes which are needed for RTGS ? Payment and wire transfer respectively ?
Hello Frd's This is Mohd NaseerUddin. Is Anyone can help me out to findout a Accounting Peachtree 7.2 note's aswel as Focus notes also Plsssssss helpme out to find it. My E-mail id is mohd_naseeruddin43@yahoo.com
why do you want to work here?
where does the closing stock appears in the trial balance?
