Sam’s parents agreed to pay 25 percent of the cost of a new bike if Sam paid the rest.
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If A and B are equal:
Matrix A must be a diagonal matrix: FALSE.
We only know that A and B are equal, so they can both be non-diagonal matrices. Here's a counterexample:
Both matrices must be square: FALSE.
We only know that A and B are equal, so they can both be non-square matrices. The previous counterexample still works
Both matrices must be the same size: TRUE
If A and B are equal, they are literally the same matrix. So, in particular, they also share the size.
For any value of i, j; aij = bij: TRUE
Assuming that there was a small typo in the question, this is also true: two matrices are equal if the correspondent entries are the same.