What is the effect on the Net Assets if cash is received from debtors of Rs. 50,000? a) Increase b) - (c) No change Description: Entry from receiving cash from debtors is: Cash A/C Dr. 50,000 To Debtors A/C 50,000 Since, both the above items are current asset elements, there will be no change in current asset position due to this transaction. - Fundamentals of Accounting Interview Questions and Answers

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Question: What is the effect on the Net Assets if cash is received from debtors of Rs. 50,000? a) Increase b) Decrease c) No change d) None of these

Answer: (c) No change
Description: Entry from receiving cash from debtors is:
Cash A/C Dr. 50,000
To Debtors A/C 50,000
Since, both the above items are current asset elements, there will be no change in current asset position due to this transaction.

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Question: What is the effect on the Net Assets if cash is received from debtors of Rs. 50,000? a) Increase b) Decrease c) No change d) None of these

Answer:

(c) No change
Description: Entry from receiving cash from debtors is:
Cash A/C Dr. 50,000
To Debtors A/C 50,000
Since, both the above items are current asset elements, there will be no change in current asset position due to this transaction. Source: CoolInterview.com

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