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what is fictitious account?
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Answer / rakesh kumar prasad
fictitious assets are those assets those do not have
physical form or existence and they can not be touch or
feel. These are not the real assets. These are the items of
such expenses and losses which have not been written off in
full.it only includes the assets having the nature of
deffered revenue expenditures viz, deffered advertisement
expenses, discount on issue of shares or debentures. These
are the assets out of which benefit or profit for more than
one accounting year is available.
examples,
preliminary expenses,
under writing commission,
discount on issue of shares or debentures etc
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / sumitra.raghavan
asset which are of intangible nature which do not have any economic value these asset are due to be written off example discount on issue of shares
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / sanoop as
FIctitious asset is asset which can not been seen,but exist in the busiess
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sahana.m
Fictitious accounts are accounts of the expenses and losses
which a concern incurs , and incomes and gains which a
concern earns in the course of its business
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / afzaal raza
fictitious assets is such asset which don't have market value. like discount on issue of shares and debentures, Preliminary expenses etc.
| Is This Answer Correct ? | 0 Yes | 0 No |
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