penury. Antonyms: competence, wealth, affluence, pecuniosity. Synonyms: wart, privation, poverty, indigence, impecuniosity, destitution, beggary.

Some common synonyms of penury are destitution, indigence, poverty, and want. While all these words mean “the state of one with insufficient resources,” penury suggests a cramping or oppressive lack of money.

Antonyms of PENURY plenty, opulence, richness, good fortune, abundance, wealthiness, riches, luxury, wealth, boon, prosperity, affluence, advantage, benefit, blessing, good luck.

other words for penury

• barrenness.
• dearth.
• destitution.
• indigence.
• insufficiency.
• need.
• privation.
• scantiness.

SYNONYMS FOR inflexible 1 unbendable, stiff. 2 rigorous, stern, unrelenting, unremitting, stubborn, obstinate, intractable, obdurate, unbending, adamant.

pretentious

• affected,
• grandiose,
• highfalutin.
• (also hifalutin),
• high-minded,
• la-di-da.
• (also la-de-da or lah-de-dah or lah-dee-dah or lah-di-dah),
• ostentatious,

1. The definition of pretentious is someone or something that claims to be very important or grand. An example of pretentious is someone saying they deserve a table in a crowded restaurant because of who they are. adjective.

The examples of Fictitious Assets are as follows:

• The Net Loss of the company.
• The Promotional (Marketing) expenses of the company.
• The Underwriting commission.
• The Preliminary Expenses of the Company.
• The Discount allowed on the issue of shares.
• The loss incurred on the issue of debentures.

Fictitious assets are the assets which has no tangible existence, but are represented as actual cash expenditure. In other words, fictitious means fake or not real, these are not assets at all but they show in financial statements.

The definition of fictitious is made up, whether for a written story, a lie or a tale. An example of something fictitious is the story of “Little Red Riding Hood.” Concocted or fabricated, especially in order to deceive or mislead; make up.

Gold is Non financial asset.

They are recorded as assets in financial statements only to be written off later. Promotional expenses, Preliminary expenses, Discount allowed on issue of shares and Loss incurred on issue of debentures are examples of fictitious assets. Prepaid rent is not a fictitious asset.

Goodwill is an intangible asset because it have not any physical firm and we can’t see and touched it . we can’t share them physically it’s means by touch but we can pay this asset . we can used it (Goodwill) so this is not fictitious asset.

Among the given options Discount on issues of shares and debentures is not the example of fictitious assets.

Verification and Valuation of Fictitious Assets These expenses are shown in the balance sheet. These expenses are written off during a span of time of 3 to 10 years. The Auditor should verify that un-written amount is shown in the balance sheet.

Fictitious assets have no physical existence or you can say these are intangible assets. These type of assets are just expenses which are treated as assets. They have no realizable value. They are amortized or written off in one then more profitable financial year.

Objectives of Verification are: To show correct valuation of assets and liabilities. To know whether the balance sheet exhibits a true and fair view of the state of affairs of the business. To find out the ownership and title of the assets.

Object: The object of verification is to satisfy the auditor as to existence, ownership, possession (in case of assets) or completeness (in case of liabilities), valuation and disclosure of items mentioned in the balance sheet.

Sub-section (6) of section 139 of the Act states that, notwithstanding anything contained in sub-section (1), the first auditor of a company, other than a government company, shall be appointed by the board of directors within 30 days from the date of registration of the company and in the case of failure of the Board …

The Verification Process confirms that Design Synthesis has resulted in a physical architecture that satisfies the system requirements. Throughout a system’s life cycle, design solutions at all levels of the physical architecture are verified to meet specifications.