Business, Legal & Accounting Glossary
An asset entry recorded on the balance sheet of a business that has value to the business, but that does not correspond to a real asset or have a resale value. Fictitious assets are used to keep track of assets that cannot be recorded under normal accounting categories, such as prepayments or deferred revenues.
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This glossary post was last updated: 20th November, 2021 | 0 Views.