4:40 AM
imran ali
Such assets are nominal in nature and do not have real value. They are either the past accumulated losses or expenses incurred once in the life of a business. Some examples are,
- Preliminary expenses
- Discount or loss on issue of shares and debentures
- Deferred revenue expenditure e.g. advertisement expenses
- Brokerage and share underwriting commission
- Debit balance of profit and loss account.
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