Financial | MCQs

Explanation

If we buying ourselves shop we must get our profit 

Explanation

The word “ghareem” comes from the word “ghurm”, which means debt.

The gharem is a person in debt, which is clearly stated in the Quran as an eligible category to receive Zakat.

Therefore if a person has a debt, and cannot pay it back, he/ she can receive the amount needed to pay back the debt.

Explanation

 The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank, has approved a $1.2 billion financing under the annual plan to provide Pakistan integrated trade solutions to support the energy and agriculture sectors.

Explanation

presented by Revenue Minister Hammad Azhar on 11 June 2019 at the National Assembly with a total outlay of ₨. 7.022 tn.

The Federal budget 2019–20 is the federal budget of Pakistan for the fiscal year beginning on 1 July 2019 and ending on 30 June 2020.

Explanation

At the time of division, there was a cash balance of 4 billion rupees in the Reserve Bank of India which was to be divided between India and Pakistan in the ratio of:

17 to India

and 5 to Pakistan.

Pakistan was to receive 750 million rupees, which was initially delayed by the Indian Government.

ND22-7-2023

Explanation

The Federal budget 2020–2021 is the federal budget of Pakistan for the fiscal year beginning from 1 July 2020

ending on 30 June 2021.

The budget was presented in Parliament by Federal Minister Hammad Azhar

It is also called the Corona budget

The total size of the budget is Rs. 7136 (US$25) billion.

Rs. 1289 (US$4.50) billion for defense

,Rs. 83.3 (29¢ US) billion for education

Rs. 70 (24¢ US) billion were allocated for preventing coronavirus,

Rs. 80 (28¢ US) billion for special economic zones

Explanation

Explanation

The function of a Bank is to collect deposits from the public and lend those deposits for the development of Agriculture, Industry, Trade and Commerce.

Explanation

The Federal Board of Revenue (FBR) is responsible for collecting various types of taxes in Pakistan, including:

Income Tax: FBR collects income tax from individuals and businesses.

Federal Excise Duty (FED): FBR collects FED on certain goods and services.

Sales Tax: FBR collects sales tax on goods and services.

Additionally, FBR also collects other types of taxes, such as:

• Customs duty
• Property tax
• Wealth tax
• Gift tax
• Inheritance tax

Explanation

A balance sheet  a report that shows the company assets liabilities and equity at a specific point in time