
Islamic Accounting 2
Authored by Ummu Sulaim
Financial Education
University
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term 'Sole Proprietorship' refer to?
A business with two or more owners
A business with a single owner
A publicly traded corporation
A partnership of firms
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a corporation?
A business owned by one person
A business organized as a limited liability company
A business whose ownership is represented by publicly traded stock
A business structured as a partnership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Islamic accounting prioritize in financial reporting?
Risk-taking
Transparency and honesty
Profit maximization
Speculation and gambling
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Zakat in Islamic accounting?
A tax on profits
Obligatory almsgiving
A method of profit-sharing
A type of interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are considered external users of financial information?
Managers
Employees
Creditors
Production supervisors
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following financial instruments is used in Islamic finance?
Bonds
Sukuk
Shares
Debentures
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a characteristic of a partnership?
Ownership by two or more individuals
Partners are liable for obligations
Limited liability for all partners
Active management by partners
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