FICTITIOUS ASSET Definition

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FICTITIOUS ASSET is debit balance included on balance sheets as assets that do not conform to the definition of an asset. Intentional includes of assets known to be fictitious assets may be ruled as fraud.

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RRA is Reserve Recognition Accounting.

MARKET APPROACH is a general way of determining a value indication of a business, business ownership interest, security, or intangible asset by using one or more methods that compare the subject to similar businesses, business ownership interests, securities, or intangible assets that have been sold.

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