6. The zakat rate on wealth based on the solar year is a. 2.5575% b. 2.7555% c. 2.5577% d. 2.5775% 7. What is the zakat rate on wealth based on the lunar year? a. 2.500% b. 2.550% c. 2.5700% d. 2.7700% 8. Zakat is payable only on 'growing' capital. Growing capital is a. a fixed asset that can be expanded. b. the realised gains on fixed assets. c. the realised and unrealised gains on fixed assets. d. the realised and unrealised gains on fixed and current assets. 9. Growing capital will be equal to net working capital a. when there is no long-term debt financing any current assets. b. when there is no short-term debt financing any current assets. c. when there is no long-term debt financing any fixed assets. d. when there is no medium-term debt financing any fixed assets. 10. Which of the following statements are TRUE? I. The rate of zakat varies depending on the category of wealth. II. The rate of zakat is fixed at 2.5% irrespective of the category of wealth. III. Only liabilities that are due in the current year are deductible. IV. The rate for zakat on fixed assets is 2.5%. 9. Growing capital will be equal to net working capital a. when there is no long-term debt financing any current assets. b. when there is no short-term debt financing any current assets. c. when there is no long-term debt financing any fixed assets. d. when there is no medium-term debt financing any fixed assets. 10. Which of the following statements are TRUE? I. The rate of zakat varies depending on the category of wealth. II. The rate of zakat is fixed at 2.5% irrespective of the category of wealth. III. Only liabilities that are due in the current year are deductible. IV. The rate for zakat on fixed assets is 2.5%. a. I and II b. I and IV c. I, II, and III d. I, III, and IV