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Which is not a fictitious asset?
plant and machinary,land and buildings etc......
Explain fictitious assets with an example?
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.
Is goodwill a fixed asset or fictitious asset?
Goodwill in an intangible asset. It can be purchased or internally-generated. Purchased goodwill can occur when a businesses purchases a company's assets for more than their fair value. Internally-generated goodwill can arise for a few reasons, such as the fact that a company develops a reputation in the industry and in the market. Such a factor is an asset to the company, but is not tangible. I believe accounting principles are fairly restrictive on this type of goodwill.
Does accrued depriciation go in asset non current where you subtract?
Accumulated Depreciation is a contra-account, meaning it is shown as a negative, in the Fixed Asset section of the Balance Sheet.
How does one define intangible assets?
One may define intangible assets as meaning an asset that is not physical in nature or not monetary. An example of such an asset would be intellectual property.
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.
Fictitious asset and its advantage?
A fictitious asset is one that doesn't have a resale value. A prepayment, such as a gift card balance, is a fictitious asset.
Is good is a fictitious asset or fixed asset?
fixed
Which is not a fictitious asset?
plant and machinary,land and buildings etc......
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).
Explain fictitious assets with an example?
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.
Is goodwill a fixed asset or fictitious asset?
Goodwill in an intangible asset. It can be purchased or internally-generated. Purchased goodwill can occur when a businesses purchases a company's assets for more than their fair value. Internally-generated goodwill can arise for a few reasons, such as the fact that a company develops a reputation in the industry and in the market. Such a factor is an asset to the company, but is not tangible. I believe accounting principles are fairly restrictive on this type of goodwill.
What is another word meaning fictitious name?
pseudonym For a writer .Nome de Plume For a criminal, alias
What is the meaning of Scrap Value in accounting?
scrap value is the residual value of an asset. the valu of an asset which exists after its estimated life period
What is the meaning of hypothecation charge?
A hypothecation charge refers to using an asset as collateral for a loan without transferring ownership of the asset. The lender has a claim on the asset in case the borrower defaults on the loan.
What is the meaning of the idiom blue chip?
it means a highly valued asset.
What is an off balance sheet asset?
what is the meaning of to err is human and to forgive is Divine
