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Principles of Zakat and Zakat Accounting for Business Wealth | 229 Required: (a) Determine the zakatable amount and zakat due based on the Net Current
Principles of Zakat and Zakat Accounting for Business Wealth | 229 Required: (a) Determine the zakatable amount and zakat due based on the Net Current Assets method and Net Growing Capital method. (12 marks) (b) Net Growing Capital method of zakat measurement is an alternative to Net Current Assets and Net Owners Equity as a method to measure Zakatable amount for companies. i. Explain the rationale of this method ii. Discuss the problems of using this method. (8 marks) (Total: 20 marks)
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