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P2 C5 Financial Statements of Business Organisations — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C5 Financial Statements of Business Organisations1 Mark
Question
What are called fictitious assets?
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Answer

Those assets which cannot be seen and have zero value in the market are called fictitious assets. e.g., Deferred revenue expenditure.

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