Question

distinguished between wasting assets and fictitious assets​

Answer 1

Answer:

Wasting assets are those assets which have a limited life and therefore decrease in value over time. A wasted asset is often used until there is nothing left. A wasting asset is also referred to as a consumed asset. ... Some examples of wasting assets are natural gas, oil, timber and coal.

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.

Explanation:

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Answer 2

see atached copy. Mark as brainlist.