What are Fictitious Assets? Give example.

Asked by Last Modified  

Follow 1
Answer

Please enter your answer

Mathematics Tutor

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...
read more
Fictitious assets-fictitious assets are deffered revenueexpenditure whose benefit is derived over long period of time.Evenaccumalated losses are also fictitious assets as they are writtenoff over a period of time.All fictitious assets are intangible butall intangible assets are not fictitious.exgoodwill.patents,trademarks,copyrights are intangible but notfictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture andshares,underwriting commission,miscellaneous expenditure,profitand loss(dr). read less
Comments

Related Questions

What are the fixed assets? Give example.
as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course...
Vishal
0 0
5
What is the difference between amalgamation and absorption?
Amalgamation is the process of two or more companies joining together to form a new one. Think of Maruti India and Suzuki Japan amalgamating to form Maruti Suzuki. Absorption is when one company acquires...
Akash
0 0
5
How to become a tutor in urbanpro?
TO BECOME A TUTOR IN URBON PRO YOU HAVE DOWNLOAD THE URBAN PRO TUTOR APP FROM PAY STORE . SIGN IN WITH DETAILS . CREATE A PROFILE WHICH WILL ACT AS . ADD VERFICATION DOCUMENTS AND ALL NECESARY DETAILS . TO CONTINOU TUTOR HAVE TO LOGIN TO THE PORTAL
Kiruthiga
What are the two government plans for school students?
1.Educational loan for higher education. 2. Compulsory education for all under the age 6 - 14 years 3.state and central government's scholarship scheme etc.
Rajkmar
What is the difference between Cash & Cash Equivalent?
1. Cash means Paper money , coins , Money order etc But, Cash Equivalent means Highly Liquidable Securities 2. Cash has not any Time period . It is Demand Receipt But , Cash Equivalent Take some time...
Madhav

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

How to Prepare Final Accounts (Step by step procedure) for BBA/ Bcom/ BBM students
Dear Students, Final Accounts question is a very scoring question in the accountancy Paper and is also a compulsory question for most of the boards. So here is the list of simple steps to be follwed...


Why Tally is most popular accounting software in India?
Why is Tally the most popular accounting software in India? The top 10 reasons follow. 1.Easy maintenance : Maintaining an accounting software package hasn’t been more comfortable. A transformation...

Introduction To Accounting: Part 7: Accounting Principles
Just like we have Grammar in English Language, which is basically the rules of English, we have some rules for Accounting as well, known as Accounting Principles. Accounting Principles, Concepts and Conventions...

Introduction To Partnership Firms
Fundamentals of partnership: A partnership comes into existence by an agreement. This agreement can be verbal or written. When two or more individuals enter into a partnership and sign a written agreement...

Recommended Articles

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

With the mushrooming of international and private schools, it may seem that the education system of India is healthy. In reality, only 29% of children are sent to the private schools, while the remaining head for government or state funded education. So, to check the reality of Indian education system it is better to look...

Read full article >

Quality education does not only help children to get a successful career and life, but it also hugely contributes to society. The formal education of every child starts from school. Although there are numerous schools, parents find it challenging to choose the right one that would fit their child. It is difficult for them...

Read full article >

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you