Question

What is the difference between Fictitious Assets and Deferred Revenue Expenditure?

Answer 1

HEYA MATE

⚫Fictious assets are those assets which are neither tangible assets nor intangible assets. They are losses not written off in the year in which they are incurred but in more than one accounting period.

⚫Deferred revenue expenditure is a revenue expenditure in nature but is written off (charged) in more than one accounting period because it is estimated that benefit of such expenditure will accrue in more than one financial year.

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Answer 2

Answer:

Explanation:fictitious assets are those assets which are neither tangible and intangible they are the losses not written off in the year

Deferred revenue expenditure is revenue expenditure in nature but it is written off in more than one year e. G advertisement