Identify the group that represents grouping of accounts based on classification of data point of view :

Asset, Liabilities, Capital, Revenue and Expenses

The correct answer is Option (3) - Asset, Liabilities, Capital, Revenue and Expenses.

The group that represents the classification of accounts based on the data point of view is Asset, Liabilities, Capital, Revenue, and Expenses.

This grouping reflects the primary categories in financial accounting:

• Assets: Resources owned by the business.
• Liabilities: Obligations or debts of the business.
• Capital: Owner's equity in the business.
• Revenue: Income generated from business activities.
• Expenses: Costs incurred to generate revenue.

Assets = Liabilities + Capital + (Revenues – Expenses).

These are the key elements that make up the basic structure of the balance sheet and income statement, capturing the financial position and performance of the business.