Which One of the Following Funds Is Not Amongst the Three

question 49

Multiple Choice

Which one of the following funds is not amongst the three special asset classes that have been identified by modern Sharī'ah scholars?

• A) Islamic hedge funds
• B) private equity funds
• C) funds of funds
• D) mixed funds

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Definitions:

Interest Receivable

The amount of interest that has been earned but not yet received in cash or other forms of payment.

Interest Revenue

Income earned from lending money or investing in interest-bearing financial instruments.

Accrued Interest

Interest that has been earned but not yet received or recorded in the accounts.

Interest Payable

A liability account showing the amount of interest expense that has been incurred but not yet paid as of the balance sheet date.