Which of the following assets is a fictitious asset?

Question

(a) Goodwill A/c

(b) Prepaid Rent A/c

(c) Outstanding Salary A/c

(d) Preliminary expenses A/c

Muhammad Rehan Tahir ACCA · Answer

Option d: Preliminary expenses a/c

Waleed El-Baz · Answer

Fictitious assets are such assets whose benefit is derived over a longer period of time, Like Deferred revenue expenditure, Misc. expenses, Preliminary expenses, Accumulated loss,etc. These assets are intangible too. In the other hand Goodwill, Trade Mark, Patents, Copyrights are intangible assets but not fictitious.

Muhammad Sabith · Answer

good will ,,,,,,,,,,,,,,,,,,,

Royson D'souza · Answer

Goodwill A/C is considered a Fictitious asset since in non-tangible in nature.

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Which of the following assets is a fictitious asset?

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