Loss on issue or discount on issue of debenture is a ______ asset.

Tangible

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Current

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Fictitious

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None of the above

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Solution

The correct option is C Fictitious
Fictitious assets are the deferred revenue expenditure. These are also intangible assets. This includes discount on issue of debentures, advertisement expenses but this does not includes goodwill, patents, rights etc. All fictitious assets are intangible but all intangible assets are not fictitious.

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Discount on issue of debentures is a/an ________.

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