fictitious asset for exampal like this (miscellanous expenditure)
plant and machinary,land and buildings etc......
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.
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.
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.
Accumulated Depreciation is a contra-account, meaning it is shown as a negative, in the Fixed Asset section of the Balance Sheet.
A fictitious asset is a claimed asset that does not actually exist. It is considered fraud to claim a fictitious asset.
A fictitious asset is one that doesn't have a resale value. A prepayment, such as a gift card balance, is a fictitious asset.
fixed
plant and machinary,land and buildings etc......
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).
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.
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.
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scrap value is the residual value of an asset. the valu of an asset which exists after its estimated life period
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.
it means a highly valued asset.
what is the meaning of to err is human and to forgive is Divine