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Answer Posted / 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
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