What are the fictitious assets?
What are the fictitious assets?
An asset entry recorded on the balance sheet of a business that has value to the business, but is neither a real asset nor has a resale value. e.g. prepayments or deferred revenue.
Fictitious assets also have no physical existence but they only include the assets having the nature of deffered revenue expenditures viz, deffered advertisement expenses, discount on issue of shares or debentures. These are the assets out of which benefit or profit for more than one accounting is availed.
