Which of the Following Is NOT a Model of Takaful

question 37

Multiple Choice

Which of the following is NOT a model of takaful?

• A) the Mudarabah Model
• B) the Wakalah Model
• C) hybrid Wakalah-cum-Mudarabah Model
• D) none of the above

---

Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds, shown as an expense on the income statement.

Interest Payable

A liability account representing the amount of interest expense that has been incurred but not yet paid by the company.

Current Liability

A liability that is expected to be paid off within a year's time or within the normal operating cycle of a business.

Short-Term Obligation

Debt or financial obligations due within one year.