Accountancy, asked by nisha8236, 7 months ago

what is fictitious assets

Answers

Answered by manojchauhan962667

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 Anonymous

Fictitious assets are those assets which couldn't be written off during the present accounting period .

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