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WAEC Financial Accounting 2026 Question 24

Question 24

Accounting Equation

The expression that assets equal capital and liabilities is the

  1. A.accounting equation
  2. B.business entity concept
  3. C.double entry principle
  4. D.golden rule
Show the answer and explanation

Answer: A (accounting equation)

Explanation

Assets = Capital + Liabilities is the accounting equation.