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प्रश्न
Give two examples of fictitious assets.
थोडक्यात 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?
Mention two contingent liabilities.
Give a classification of assets.
Give a classification of liabilities.
What are fictitious assets?
Give one example of fictitious assets.
Give one difference between fixed assets and current assets.
Explain current assets with an example.
Name the different types of liabilities.
Explain Liability.
