WorksheetsFINAL EXAM (MUDHARABAH & MURABAHAH FINANCING)
Total questions: 10
Worksheet time: 30mins
Choose TWO (2) conditions of capital in Mudharabah? (You can tick any 2 correct answers)
The capital must not be delivered to the possession of the mudharib entirely.
The capital must be in the form of money and not commodities.
The capital must be not specified, determined and known at the time of contract.
The capital must be in the form of available cash.
Which of the following relevant journal entries is CORRECT when being provided Mudharabah financing to mudharib?
dr Mudharabah Financing Account
cr Profit & Loss Account
dr Cash Account
cr Profit & Loss Account
dr Cash Account
cr Mudharabah Financing Account
dr Mudharabah Financing Account
cr Cash Account
Which of the following relevant journal entries is CORRECT when being received repayment of capital by Mudharib?
dr Mudharabah Financing Account
cr Profit & Loss Account
dr Cash Account
cr Profit & Loss Account
dr Mudharabah Financing Account
cr Cash Account
dr Cash Account
cr Mudharabah Financing Account
Which of the following relevant journal entries is CORRECT when being received profit from Mudharib?
dr Mudharabah Financing Account
cr Profit & Loss Account
dr Cash Account
cr Profit & Loss Account
dr Mudharabah Financing Account
cr Cash Account
dr Cash Account
cr Mudharabah Financing Account
Choose TWO (2) similarities between Murabahah Financing and Bai’ Bithaman Ajil (BBA) correctly. (You can tick any 2 correct answers)
Both obliged to disclose mark up.
Both are trade financing (sales at mark up price)
Both involved 3 parties
All of the following matters in Murabahah contract that must be followed by the seller and buyer to comply with shariah EXCEPT..
The murabahah must not involve any of ribawi items.
The Islamic bank must actually hold and own the property before selling it to the customer.
The cost price must be known by the purchaser at the time of the contract.
The Islamic bank should not bear the risk in the trade.
Al-Haj Bhd provided a financing to Sutera Sdn Bhd. The financing amount was RM300,000 and they were required to make installments quarterly basis of RM30,000 for 5 years.How much is the marked-up price?
RM150,000
RM300,000
RM500,000
RM600,000
Which of the following relevant journal entries is CORRECT when installment is due but not yet received in Murabahah Financing?
dr Account Receivables
cr Profit & Loss Account
dr Cash Account
cr Profit & Loss Account
dr Account Receivables
cr Murabahah Financing Account
Ar-Rahman Bank provided financing of RM600,000 to Jaya Bhd. The term of financing is 5 years. If the annual installments is RM160,000, find rate of return in %
4.67%
5.67%
6.67%
7.67%
Which of the parties NOT involved in Murabahah Financing?
Vendor
Islamic Bank
Partner
Customer
