FICTITIOUS ASSET Definition

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FICTITIOUS ASSET is debit balance includes 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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BREAK-EVEN POINT is the volume point at which revenues and costs are equal; a combination of sales and costs that will yield a no profit/no loss operation.

AFUDC is Accumulated Funds Used During Construction or Allowance for Funds Used During Construction.

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