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what is fictitious asset, give examples …

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what is fictitious asset, give examples of it

    • Posted by Jolly Chabra 7 years ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Gaurav Seth 7 years ago

    Fictituous assets are not assets actually, they are expenses and losses shown on asset side of the Balance sheet. Fictitious means “Fake”.

    Fictious assets are those assets which couldn’t be written off during the present accounting period.

    Examples-

    1.preliminary expense

    2.promotional expense of a business.

    3.discount allowed in issue of shares

    4.loss incurred on issue of debentures.

    2Thank You

    ANSWER
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