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what are fictious assets? give some examples?
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Answer Posted / shailza
fictitius assests are those which does not have a physical back up and also no market value. they are created by some book entry...a very common example of this is business start up cost..accountants record this becouse it adds some benefit to the business and company can right of this asset against its earnings over a period of time...other examples are debit balance of profit and loss account , discount on issue of shares and debentures , etc.
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