The effect on the Net Assets if cash is received from debtors of Rs. 50,000 is no change (option C).

Here's an explanation of why the answer is option C:

Net Assets:
Net Assets represent the total value of an organization's assets after deducting its liabilities. It is calculated as the difference between the total assets and total liabilities. Net Assets provide a measure of the organization's financial health and its ability to meet its obligations.

Effect of Cash Received from Debtors:
When cash is received from debtors, it represents the collection of outstanding payments from customers or clients who owe money to the organization. This cash inflow affects the organization's balance sheet and has an impact on both assets and liabilities.

Assets:
Assets are resources owned by the organization that have economic value. Cash is considered an asset because it represents the organization's available funds that can be used to meet its financial obligations. When cash is received from debtors, it increases the organization's cash balance, which is a current asset.

Liabilities:
Liabilities represent the organization's obligations or debts that it owes to external parties. Cash received from debtors does not affect the liabilities directly, as it is not related to any external borrowings or debt repayments.

Net Assets Calculation:
Net Assets are calculated as follows:
Net Assets = Total Assets - Total Liabilities

Effect on Net Assets:
When cash is received from debtors, it increases the cash balance, which is a current asset. However, since there is no change in liabilities, the increase in assets is offset by an equal increase in net assets. As a result, there is no change in the overall value of net assets.

Therefore, the correct answer is option C - No change. The receipt of cash from debtors increases the cash balance (current asset) but does not impact the liabilities, resulting in no change in the net assets.