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WAEC Accounting 2022 Objective — Question 12

Question 12 of 50 from the West African Examinations Council (WAEC) Accounting 2022 Objective paper, with the correct answer and a full explanation.

Resources owned and controlled by a business are classified as

A. capital
B. assetsCorrect
C. liabilities
D. drawings

Explanation

Assets are defined as resources owned and controlled by a business.

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