ᴅᴇꜰɪɴᴇ ꜰɪᴄᴛɪᴛɪᴏᴜꜱ ᴀꜱꜱᴇᴛꜱ?..??
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Fictitious assets are the assets which has no tangible existence, but are represented as actual cash expenditure. ... Expenses incurred in starting a business, goodwill, patents, trademarks, copy rights comes under expenses which cannot be placed any headings. Fictitious assets have no physical existence
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ƒicτiτiσυs αssєτs αrє єxρєทsєs & ℓσssєs ωнicн ƒσr sσмє rєαsσท αrє ทστ ωriττєท 域 ∂υriทg τнє αccσυทτiทg ρєriσ∂ σƒ τнєir iทci∂єทcє.
τнєy αrє ทστ αssєτs ατ αℓℓ, нσωєvєr, τнєy αrє sнσωท αs αssєτs iท τнє ƒiทαทciαℓ sτατємєทτs σทℓy ƒσr τнє τiмє вєiทg.
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