Mr. A receives Rs.1000 in cash from a customer. He is of the view that cash shall be recorded in right side of the cash account. Is he correct?

Yes, he is correct

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No, he is not correct

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Either A or B can be correct

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None of the above are correct

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Solution

The correct option is B
No, he is not correct

An increase in asset shall be shown on debit side of an account.

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