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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CASH CLEARING ACCOUNT represents a clearing account for voided and reissued imprest cash checks. It is also used for miscellaneous corrections of imprest cash checks.

LOGGING is the practice of recording data, in some medium, sequential input, often in a time-associated format.

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