Question

what do you mean by Fictitious Assets please give answer don't spam​

Answer 1

Answer:

Fictitious asset is not a real asset but deferred expenses that are shown in assets in the balance sheet. ... Expenses or losses that are not written off during the accounting period of occurrence because they give long-term benefit over a period of time are categorized as fictitious assets.

Answer 2

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.