1. **State the problem:** Solve the equation $8 - \frac{1}{4} = \frac{24}{4} - \frac{1}{4}$. 2. **Rewrite the whole numbers as fractions:** $8 = \frac{32}{4}$ because $8 \times 4 = 32$. 3. **Substitute into the equation:** $\frac{32}{4} - \frac{1}{4} = \frac{24}{4} - \frac{1}{4}$. 4. **Combine the fractions on each side:** Left side: $\frac{32}{4} - \frac{1}{4} = \frac{32 - 1}{4} = \frac{31}{4}$. Right side: $\frac{24}{4} - \frac{1}{4} = \frac{24 - 1}{4} = \frac{23}{4}$. 5. **Compare both sides:** $\frac{31}{4} \neq \frac{23}{4}$. 6. **Conclusion:** The equation $8 - \frac{1}{4} = \frac{24}{4} - \frac{1}{4}$ is false because $\frac{31}{4} \neq \frac{23}{4}$. **Final answer:** The two sides are not equal; the equation does not hold true.