What is the required entry for unpaid Zakah by the IFI? a. Dr. Zakah expense Cr. Zakah

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What is the required entry for unpaid Zakah by the IFI?

a. Dr. Zakah expense Cr. Zakah payable

b. Dr. Zakah payable Cr. Zakah expense

c. Dr. Zakah expense Cr. Cash/Bank

d. None of the above

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Related Book For answer-question

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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Question Posted: Mar 11, 2024 03:31 AM

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What is the required entry for unpaid Zakah by the IFI? a. Dr. Zakah expense Cr. Zakah

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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