What is an example of fictitious assets?

Fictitious assets are the assets which has no tangible existence, but are represented as actual cash expenditure. Expenses incurred in starting a business, goodwill, patents, trademarks, copy rights comes under expenses which cannot be placed any headings.

What is a fictitious asset quote two examples?

Some examples of fictitious assets are: Promotional Expenses. Preliminary Expenses. Discount on issue of shares.

What are 5 examples of business assets?

Examples of current assets include:

• Cash and cash equivalents: Treasury bills, certificates of deposit, and cash.
• Marketable securities: Debt securities or equity that is liquid.
• Accounts receivables: Money owed by customers to be paid in the short-term.
• Inventory: Goods available for sale or raw materials.

What are those assets that they had to start their business?

Cash. Businesses need cash to operate.

Land. Land is a long-term, or capital, asset because the business holds it for more than one year.

Buildings.

Equipment.

Inventory.

Intangibles.

Accounts and Notes Receivables.

Other Asset Types.

What is an example of fictitious?

The definition of fictitious is made up, whether for a written story, a lie or a tale. An example of something fictitious is the story of “Little Red Riding Hood.”

How do you verify fictitious assets?

The best way to understand fictitious assets is to memorize the meaning of the word “fictitious” which means “not true” or “fake”. Fictitious assets are expenses & losses which for some reason are not written off during the accounting period of their incidence.

What are miscellaneous assets?

Miscellaneous Assets Miscellaneous Assets are those assets which are neither current nor fixed or intangible assets. Advances to employees, investment in associate firms/ associates, unquoted shares, stores and spare-parts etc., are treated as miscellaneous assets.

What are my business assets?

A business asset is an item of value owned by a company. Business assets span many categories. They can be physical, tangible goods, such as vehicles, real estate, computers, office furniture, and other fixtures, or intangible items, such as intellectual property.

Which of the following is not an asset of an enterprises?

Owner’s Equity is the answer.

Which of the following is not an example of fictitious assets?

These assets include a debit balance of profit and loss A/c and the expenditure not yet written off such as advertising expenses etc. Among the given options Discount on issues of shares and debentures is not the example of fictitious assets.

What are the examples of a fictitious asset?

Now i think you are clear..if not you can ask me again. Major examples of fictitious asset are : profit and loss (dr.bal), discount on issue of shares and debentures, preliminary expenses, underwriting commission, advertisement suspense a/c etc.

What is the difference between intangibles and fictitious assets?

In other words, intangibles assets which cannot be seen or touched but only the benefit derived from them can be felt and valued, can also be called fictitious assets. However, we can say that all fictitious assets are intangibles but all intangibles are not necessarily fictitious assets.

How to protect your enterprise from cyberattacks?

In order to protect your enterprise, you must have a solid understanding of your boundary. The enterprise security boundary consists of all information assets (e.g. servers, workstations, cloud services) that support the mission of the enterprise through information processing and storage operations.

What is enterenterprise security?

Enterprise security is the process by which an organization protects its information assets (data, servers, workstations, storage, networking, applications, etc.) from infringement of confidentiality, integrity, or availability.