Question

Define ◆Debentures ◆Fictious Assests

Answer 1

debentures - A debenture is a type of debt instrument that is not secured by physical assets or collateral.Debentures are backed only by the general creditworthiness and reputation of the issuer. Both corporations and governments frequently issue this type of bond to secure capital.


fictitious assets - 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. ...Fictitious assets are written off as soon as possible against the firm's earnings.

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