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What are Fictitious Assets? Give example.

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Mathematics Tutor

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...
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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).

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