Economy, asked by prince2552952, 1 year ago

what are fictitious assets

Answers

Answered by Anonymous

Answer:

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.

Answered by ankitgupta82

Explanation:

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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