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An example of fictitious assets is

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Accounts - Principles of Accounts JAMB 2024

An example of fictitious assets is

  • stock
  • overdraft
  • goodwill checkmark
  • profit

The correct answer is: C

Explanation

Fictitious assets are intangible assets that do not have a physical form and lack inherent value. They represent deferred expenses or prepaid costs that provide benefits over future periods. For example: Preliminary Expense: Discount on Issue of Shares, Goodwill etc.

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