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The owner's claim on the asset of a business is 

Accounts - Principles of Accounts
WAEC 2024

The owner's claim on the asset of a business is 

  • A. capital.
  • B. loan.
  • C. liabilities.
  • D. drawings..
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Correct Answer: Option A
Explanation

Creditor's claims over a business asset are called Liabilities while Owner's claims are called Capital/or Owner's Equity.

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