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Question
What Is Meant by Fictitious Assets?
What Is Meant by Fictitious Assets?
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Solution
Fictitious assets are those assets which do not have a physical existence and any realisable value, but are represented as actual cash expenditure in the financial statements.
Fictitious means not real or imaginary.
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Stay connected with BYJU’S for more such questions and answers on various commerce topics.
Fictitious assets are those assets which do not have a physical existence and any realisable value, but are represented as actual cash expenditure in the financial statements.
Fictitious means not real or imaginary.
Also read:
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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