Nonprofit Accounting Question:
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Described fictitious assets?


These are like intangible assets, which cannot be seen or touched. Actually, these are not assets but some expenditure, which cannot turn to profit and loss account of a particular period that is why these items are shown on assets side of balance sheet to be written off to P&L account in reasonable years.

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Described extraordinary items?Described the functions of manger -accounts and manager-finance? Explain in detail?