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Asked by Sridevi Last Modified
Answer 
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).
Related Questions
X has made the following drawings during 2014-15. Calculate interest on drawings @90% .
1.Rs. 4000 withdrawn by X on the first day of every month with effect from 1-5-14 for four month
2. From September 2014 he withdraw RS 6000 pm in the middle for each month till December
3. On 1-2-15 he, withdrew RS 10000
4. On 31-3-15 he withdraw RS 5000.
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