fictitious assets - Vista Academy

Welcome to your fictitious assets

............is an example for fictitious asset

Machinery

Patent

Preliminary expense

Stock

It is shown on the credit side of a horizontal balance sheet

TRUE

FALSE

NONE

They are written off against the firm's earning in more than one _

MONTH

QUATER

YEAR

NONE

While deciding net asset value, fictitious assets ___________.

should be considered

should not be considered

added to total assets

none of the above

Fictitious assets are _____ for the business.

EXPENSE

ASSET

LIABILITY