What Is Fictitious Assets?


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Fictitious assets  have no physical existence but they only include 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 is availed.
Assets, such as prepayments, which do not have a resale value, but which are entered as assets on a company's balance sheet

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