Payment received from debtor will _____.

Decrease the total assets

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Increase the total assets

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Result in no change in the total assets

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Increase the total liabilities

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Solution

The correct option is C
Result in no change in the total assets

Payment received from debtors will result in no change in the total assets.

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Similar questions

Q. = Total assets – Total liabilities

If the total liabilities of a business decrease by Rs 5000 what will be the effect on total assets? (assuming the amount of capital remain same).

Give an example for each of the following types of transaction.
(i) Increase in one asset, decrease in another asset.
(ii) Increase in asset, increase in liability.
(iii) Increase in asset, increase in owner's capital.
(iv) Decrease in asset, decrease in liability.
(v) Decrease in asset, decrease in owner's capital.
(vi) Decrease in liabilities, increase in owner's capital.
(vii) Increase in one liability, decrease in another liability.
(viii) Increase in liabilities, decrease in owner's capital.

Q. Give one example of each of the following transactions:
(i) Increase in an asset and a liability.
(ii) Decrease in an asset and a liability.
(iii) Increase in assets and capital.
(iv) Decrease in assets and capital.

Q. Write a word / term / phrase as a substitute for the following statement.
The excess of total assets over total liabilities.

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Payment received from debtor will _____.

The correct option is C Result in no change in the total assets Payment received from debtors will result in no change in the total assets.

The correct option is C
Result in no change in the total assets

Payment received from debtors will result in no change in the total assets.