Under FAS 28, if a client accelerates payment of one or more of the instalments before the

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Under FAS 28, if a client accelerates payment of one or more of the instalments before the due date, the bank may waive part of the profit that was agreed upon earlier. The deducted amount shall be credited to ____________________ Receivables Profit–Income Statement Deferred profit on Murabaha sales None of the above.

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

ISBN: 9781032464022

1st Edition

Authors: Abdul Rauf Mahar, Ayesha Bhatti, Muhammad Junaid Ashraf, Asfand Zubair Malik

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