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what are fictious assets? give some examples?
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Answer Posted / pragya
Fictitious assets are those assets which are shown in the books of accounts as like the other transaction but there is no actual cash transaction happens.
Like discount on issue of share
In this condition we will only pay the amount for the shares on discounted rates not on par ,we will receive an intangible amount as a discount ( which is not actualy been given to us in cash).
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