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प्रश्न
Give two examples of fictitious assets.
संक्षेप में उत्तर
उत्तर
- These assets are not represented by possession of any property and, therefore, have no market value.
- Preliminary expenses, discount on issue of shares and debentures, etc., are examples of fictitious assets.
- These are to be written off against Profit and Loss Account.
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Classification of Assets and Liabilities
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संबंधित प्रश्न
What are liquid assets?
What are contingent liabilities?
Mention two contingent liabilities.
Give a classification of assets.
Give a classification of liabilities.
Give one example of fictitious assets.
Explain current assets with an example.
Name the different types of liabilities.
Explain Asset.
Explain Liability.
