Fixed Assets Question:

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Tell me How advertisement cost comes under fictitious assets?

Fixed Assets Interview Question
Fixed Assets Interview Question

Answer:

Fictitious assets means any expendicture, the benefits which will be spread over a period of time not only to the current period. Any expendicture we made for huge advertisements resulted for a period of time. hence its is classifying as fictitious asset.

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Suppose A company has current assets of $3 million. The companys current ratio is 1.5 and its quick ratio is 1.0. What amount of current liabilities does the company have? What amount of the companys current assets is represented by inventory?How can we made calculation of Fixed Assets?