Practice Quiz

Forensic Accounting

Category - Specialized Forensic Knowledge

Start a Study Session Sign up for Question of the Day
Which of the following best represents fictitious assets?
  1. Fictitious assets can only be fixed assets
  2. Fictitious assets can only be intangible assets
  3. Fictitious assets significantly alter the financial position of an entity
  4. All of the above
Explanation
Answer: D - Fictitious assets alter the financial position of a company. Such assets can be fixed as well as intangible in nature. Hence, the afore-mentioned are correct in regards to fictitious assets.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz