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Business
University
grade
Introduction to Accounting for Islamic Finance
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10 questions
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- Multiple ChoicePlease save your changes before editing any questions.
What is accounting?
is a process
is a report
is a record
is a person
- Multiple ChoicePlease save your changes before editing any questions.
One example of external users of financial accounting is ...
Manager
Director
Shareholder
Investor
- Multiple ChoicePlease save your changes before editing any questions.
Accounting processes include the following except:
reporting
auditing
recording
summarising
- Multiple ChoicePlease save your changes before editing any questions.
How many lesson(s) could be derived from Al-Baqarah verse 282?
1 lesson
3 lessons
5 lessons
7 lessons
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is one of the lessons from Al-Baqarah verse 282?
Written contract is a must for a significant debt contract.
Accrual concept is acceptable in Islam.
Double entry is to provide check and balance.
There are five financial statements in Islam.
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following accounting equation is correct?
Assets = Capital - Liabilities
Liabilities = Assets + Capital
Capital = Assets + Liabilities
Liabilities = Assets - Capital
- Multiple ChoicePlease save your changes before editing any questions.
This verse indicates which concepts?
Double Entry
Duality Concept
Dual Accountability
Double Cheese Burger
- Multiple ChoicePlease save your changes before editing any questions.
Which is the main role of economic activities in Islam?
Towards maximizing return to shareholder
Towards conquering the economic strength in a community
Towards achieving comprehensive welfare
Towards being the richest person in the world (astaghfirullah)
- Multiple ChoicePlease save your changes before editing any questions.
Islamic accounting is different from conventional accounting in many ways, one of them is ...
Providing information for decision making purposes
Source of law in which accounting practices is relied on
the entire accounting system
the format of financial position
- Open EndedPlease save your changes before editing any questions.
How would you say that Islamic Accounting is different from the conventional accounting?