A cash receipt may cause ___________.

Increase in liability

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Decrease in other asset

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Reduction in one asset and increase in other asset

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All of the above

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Solution

The correct option is D All of the above
An amount of money received by a company for goods or services, is called as cash receipts.
Following are the results of cash receipts:-
Increase in liability, reduction in one asset and increase in other asset, decrease in other asset etc.

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A cash receipt may cause ___________.

The correct option is D All of the aboveAn amount of money received by a company for goods or services, is called as cash receipts. Following are the results of cash receipts:-Increase in liability, reduction in one asset and increase in other asset, decrease in other asset etc.

The correct option is D All of the above
An amount of money received by a company for goods or services, is called as cash receipts.
Following are the results of cash receipts:-
Increase in liability, reduction in one asset and increase in other asset, decrease in other asset etc.