Question

What is the meaning of fictitious assets and give some examples ​

Answer 1

Answer:

Expenses or losses that are not written off during the accounting period of occurrence because theygive long-term benefit over a period of time are categorized asfictitious assets. ... Marketing expenses, bank NPAs, discounts on the issue of shares, and debenture losses are few examples of fictitious assets

Explanation:

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Answer 2

Answer:

Ficticious assets are those assets which are not assets however they are reorded as assets in the books of accounts such as goodwill, deferred revenue expenditure

Explanation: