What is the entry for Zakah payment made by the IFI on behalf of the shareholders? a.

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What is the entry for Zakah payment made by the IFI on behalf of the shareholders?

a. Dr. Zakah expense Cr. Cash/Bank

b. Dr. Dividends payable Cr. Cash/Bank

c. Dr. Cash/Bank Cr. Dividends payable

d. Dr. Cash/Bank Cr. Zakah expense

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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 entry for Zakah payment made by the IFI on behalf of the shareholders? a.

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Financial Reporting For Islamic Financial Institutions Accounting Standards Interpretation And Application

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