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Fictitious assets are non-existent assets that do not have any tangible value but are recorded in a company's balance sheet, often to inflate the financial position of the business. An example of a fictitious asset is "preliminary expenses," which may include costs incurred during the formation of a company, such as legal fees or promotional expenses, that are amortized over time despite not representing any real asset. These entries can mislead stakeholders about the company's actual financial health.
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Why in internal reconstruction capital reduction account is being prepared?
it is prepared so the amount reduced will be utilised in writing of fictitious assets, some intangible assets and the over valued portion of fixed assets
Some example of source of assets?
give me an example of source of assets?
Is there any example for current assets?
examples for current assets?
What is the difference between assets and fixes assets?
Assets have of two types Current Assets Non-Current/ Fixed Assets Current Assets are those which company utilizes in one fiscal year for example, material, Fixed assets are those assets which company utilizes for more than one fiscal year for example, machinery, plant, equipment etc
What is the example of non current assets?
notes receivable
What is the difference between fictitious assets and intangible Asset?
Fictitious assets-fictitious assets are deffered revenue expenditure whose benefit is derived over long period of time.Even accumalated losses are also fictitious assets as they are written off over a period of time.All fictitious assets are intangible but all intangible assets are not fictitious.ex goodwill.patents,trademarks,copyrights are intangible but not fictitious.following are the examples of fictitious assets are-preliminary expenses,discount on issue on debenture and shares,underwriting commission,miscellaneous expenditure,profit and loss(dr).
What is fictitious asset?
A fictitious asset is a claimed asset that does not actually exist. It is considered fraud to claim a fictitious asset.
What is the d ifference between Fictitious assets and Intangible Asset?
Intangible assets are basically fixed assets that have no physical status (e.g. goodwill, patentright,copyright etc) . The Intangible assets are written off after a specified period. Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures (e.g. deffered advertisement expenses, discount on issue of shares or debentures).
Why in internal reconstruction capital reduction account is being prepared?
it is prepared so the amount reduced will be utilised in writing of fictitious assets, some intangible assets and the over valued portion of fixed assets
Explain - fixed assets?
fixed assets are long term assets which have long term period
Explain fixed and Current assets?
Current Assets:These are those assets which are utilizable by the company in one fiscal/accounting yearFixed Assets:These are those assets which are utilized by the company for more then one fiscal/accounting year For example: Machinery, Land etc.
Some example of source of assets?
give me an example of source of assets?
Is there any example for current assets?
examples for current assets?
What is the definition of fictitious?
Fictitious (ficticius artificial, feigned, from fictus) is the use of your imagination to create something. for example making a flag using the Fibonacci Sequence.
What is the difference between assets and fixes assets?
Assets have of two types Current Assets Non-Current/ Fixed Assets Current Assets are those which company utilizes in one fiscal year for example, material, Fixed assets are those assets which company utilizes for more than one fiscal year for example, machinery, plant, equipment etc
What is a fictitious book that uses symbolism from the Bible?
There are many. An example is The Da Vinci Code.
What is an example of a fictitious force?
One example of a fictitious force is centrifugal force, which is the apparent outward force experienced by an object moving in a curved path. In reality, this force is due to inertia and the object's tendency to continue moving in a straight line.
