Interested to Buy Any Domain ? << Click Here >> for more details...
what are fictious assets? give some examples?
- 39 Answers
- 312298 Views
- Capital IQ, Genpact, I also Faced
- E-Mail Answers
Answer Posted / rakesh
Asset created by an accounting entry (and included under assets in the balance sheet) that has no tangible existence or realizable value but represents actual cash expenditure. The purpose of creating a fictitious asset is to account for expenses (such as those incurred in starting a business) that cannot be placed under any normal account heading. Fictitious assets are written off as soon as possible against the firm's earnings.
Read more: http://www.businessdictionary.com/definition/fictitious-asset.html#ixzz3D1vJKBpL
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
what are the different causes for discrepencybetween the balance of cash book and pass book
Can anyone give comparative data of NPA(non performing assets) of nationalised banks or BANKS IN INDIA for the last 5-10 years if possible with bifurcation substandard doubtful loss asset
Name some errors which can be detected by Trial Balance
what is the global prameters why are you selecting for the negative posting period allowed, defalult value date,proposed fisal year
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
What is Hot Issue Income for Hedge Funds?
im preparing for the sbi clerical post please send me the solved questions.
How exchange rates are maintained in sap
what are the aspects an auditor has to see when he/she is doing the Purchase,Sales and Journal Vouching
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
please send me some previous sbi clerical interview questions to my email id....
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
what happens to each of the three primary financial statements when capital expenditures decrease?
What is Spin-off & spilts
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
