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प्रश्न
Give two examples of fictitious assets.
थोडक्यात उत्तर
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उत्तर
- These assets are not represented by possession of any property and, therefore, have no market value.
- Preliminary expenses, discount on issue of shares and debentures, etc., are examples of fictitious assets.
- These are to be written off against Profit and Loss Account.
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