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Answer Posted / madhulika2011
Fictitious assets are those assets which are created or brought into accounts books by accounting entry, in other words these assets are not tangible assets in the sense that fictitious assets cannot be seen and also fictitious assets have no real value unlike intangible assets like goodwill which have value attached to them. Some Examples of fictitious assets are Discount which is given by the company when it issue shares, Preliminary expenses etc….
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