WAEC - Accounts Principles Of Accounts (2022 - No. 10)

Resources owned and controlled by a business are classified as

assets

capital

liabilities

drawings

Explanation

Assets are the resources or properties of a business organization e.g. land and building, premises, motor van etc. It is calculated as Asset =Capital + Liabilities.

WAEC - Accounts Principles Of Accounts (2022 - No. 10)

Explanation

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