Which of the Following Is True of the Islamic Law

question 96

Multiple Choice

Which of the following is true of the Islamic law of Shari'a?

• A) The Shari'a disallows making a reasonable profit from the sale of goods and services.
• B) All Islamic or muslim-majority countries strictly follow the complete Shari'a to govern all aspects of life.
• C) The Shari'a encourages riba through the strict payment and collection of interest on loans within stipulated periods of time.
• D) The Shari'a is primarily used in the areas of marriage, divorce, and inheritance and, to a limited degree, criminal law.

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Definitions:

Ending Inventory

The total value of all unsold goods that a company has at the end of an accounting period.

Beginning Inventory

The value of the inventory that a company has at the start of an accounting period, before any purchases or sales have occurred.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenue.

Consignment

A sales arrangement in which goods are placed in the care of another, but ownership and title remain with the supplier until the goods are sold.