Does this transaction meet the requirements of a valid Murabaha contract? Explain your answer.

Q: facts, if the grocer, knowing A, allows him to pay on a later date, granting then only credit on the…

A: Business gives the credit on goods to increase the business but some time that turns into bad debt…

Q: Which of the following statements is incorrect? A bank providing a loan to the entity is not a…

A: D) An entity needs to disclose if it has a common director with another entity because there might…

Q: Which of the following statements about a forged drawer's signature on a check is true? A.)   A…

A: A forged drawer’s signature represents the instrument or checks to contain the forged signature of…

Q: Suppose Mr. Ahmad and Mr. Akram are the current and saving account holders in an Islamic bank,…

A: Hawalah is informal Transaction between Financial beneficiary. It does not include Baking…

Q: Bank Muscat advances secured and unsecured loans to their customers. If Bank Muscat is issuing…

A: Secured loans are the loans which provided to borrower after taking collateral security. Unsecured…

Q: what is the job of a financial intermediary*? What might happen if they fail to do their job? *as…

A: A financial intermediary is an institution that serves as a middleman in a financial transaction…

Q: All senior officers of ABC Bank are entitled to obtain a housing loan. X is an Executive Vice…

A: The acronym “DOSRI” stands for Directors, Officers, Stockholders and related interests.  As per the…

Q: Please contemplate the following scenarios and answer accordingly. a. Islamic banking has entered…

A: Islamic banking is a type of banking that follows and focuses on Shariah rules and laws. Islamic…

Q: hich of the following would probably NOT be considered a “thing of value” for the purposes of…

A: Solution: Bribery means offering or receiving any item of value as a means of influencing the…

Q: Boracay wrote a complete promissory note payable to bearer. The note was stolen and his signature…

A: In the given case option d is correct... Boracay is liable to a holder in due course....

Q: Which of the following statements about a forged drawer's signature on a check is true? a.)   A…

A: The answer for the multiple choice question and relevant working are presented hereunder : A check…

Q: To collect the debt, a Lotsa Goodies representative contacts Kip’s parents. This violates a.…

A: The right answer is  D no federal law

Q: The bill of exchange written by W states that BPI Family Savings Bank will get the reimbursement of…

A: A written order or promise by the maker of the document to pay a specified sum of money to some…

Q: Accounting Tom can use the 1031 like kind exchange rules to exchange his personal vehicle for…

A: The answer for the True or false question and relevant explanation are presented hereunder : 1031…

Q: How an investment or saving account can be opened in an Islamic Bank? Under what contract these…

A: Saving account is one of the facilities given by the bank so that investors may deposit their cash…

Q: which of these substantive procedures is not used to obtain evidence about contingencies?a. Scanning…

A: Contingencies are the future expectation of losses which can happen in the organisation. Auditor…

Q: A debt-collection agency can always contact a debtor at his or her place of employment. True False

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Why are sellers willing to pay a commission to a broker to facilitate the sale of their property?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: A drawer, knowing that he has insufficient credit in the bank, issues a check, which was eventually…

A: A drawer is the person who draws a check to the drawee in order to fulfil some financial obligation.…

Q: (True/False

A: Mudarabah is an islamic accounting term popularly known as Islamic-Contract where one partner…

Q: True or False  According to PFRS 15, if an entity expects that a portion of gift certificates sold…

A: PFRS 15 Revenue from Contracts with Customers,  Breakage means the amount of contract liability…

Q: Enrique accesses Finance Bank's computer system without authority to obtain protected financial…

A: Physical assault or another form of conduct that can inflict serious psychological injury are common…

Q: A purchasing agent for a home improvement center is also part owner in a wholesale lumber company.…

A:

Q: Jones is a purchasing officer for Smith & Co. He buys exclusively from Brown even though other…

A: Solution: Conflict of interest is a situation when a person is in a position to derive personal…

Q: A manager at a "Check Into Cash" business defends his business practice as simply "charging what the…

A: Payday loans are extremely short-term loans given for periods ranging between seven and thirty days…

Q: Which of the following is NOT a client protection principle?   a. Methods that prevent client of…

A: Clients protection principles are very important in financial and loans.

Q: Which statement about a manager's use of client brokerage commissions violates the Code of Standards…

A: Correct answer is option (b) Client's brokerage commission may be directed to pay for the investment…

Q: Identify which one of the following statement is not correct? a. The credit limit under the facility…

A: A cash credit is a line of credit lent against the asset and liabilities, credit worthiness etc. The…

Q: May the creditor validly refuse acceptance of the payment of a judgment obligation made by the…

A: Cashier’s check can be referred to those checks that are issued and guaranteed by the banks. These…

Q: This corporate con stated that she stole from the company because she believed it was "okay" to take…

A: The fraud triangle represents the three basic reasons which influence the person to commit the…

Q: Big Ring Brewery ("BRB") is delinquent on its account with the Helix Water District. The Helix Water…

A: Garnishment, or wage garnishment, is when money is legally withheld from your paycheck and sent to…

Q: Under the Consumer Credit Protection Act, the maximum amount that you must pay if someone uses your…

A: Credit card companies charge the customers if they do not report illegal use of their credit cards.…

Q: Allison Everhart, an employee in accounts payable, believes she can run a fictitious invoice through…

A: Fraud is the act of deliberately conducting false reporting of facts, to acquire funds or property…

Q: Answer the following two related questions: 1- When treating loans as sales, using for example…

A: Special Purpose Entity is a legally separate business that absorbs risk for a corporation. A SPE can…

Q: If a consumer is taking advantage of business rules when it comes to cash discounts, how can an…

A: This question explains about the advantage of business rules when it comes to cash discounts

Q: John is president and sole shareholder of Photo, Inc.  Photo, Inc. wishes to borrow money, but to do…

A: The guarantee is a much more robust and higher-imported legal condition than either guarantee or…

Q: The auditor must mail cash confirmations, but the client may mail long-term debt confirmations. True…

A: Confirmation Letter: It is a letter sent by an external  auditor to the suppliers/financial…

Q: 1) A contract procured by fraud during face to face negotiations with an impostor is void. 2) A…

A: Contract:   A contract is a legally enforceable agreement between two or more entities to perform an…

Q: In a bank, the employee interacting with someone seeking a loan does not have the authority to grant…

A: PLEASE LIKE THE ANSWER  IT IS THE PART OF BANK'S INTERNAL CONTROL. As, THAT THE PERSON ADVISING THE…