Question

________ is a fictitious Asset.

• A. Goodwill
• B. Patents
• C. Preliminary expenses A/c
• D. Claims receivable

Answer 1

Answer: (C)

Preliminary expenses A/c

Fictitious Assets are those assets which are not represented by anything concrete or tangible. There are no tangible properties behind such assets, preliminary expenses is one of the example. Other examples are like Goodwill, Prepaid Expenses etc.