Q1. Briefly explain whether Zakat is due on the following items or not? Please satisfy you answer with proper explanation. Answer in your words and do not copy from any source. (3 Marks).

Type of wealth	Your answer
Tradable goods? Purchased goods in order to resale
Investment income?
Uninvested cash?
Charity items that were held for a lunar year before being given away?
Revenue-generating livestock?
Lost And Found Items?

Q2. Discuss the importance of Zakat from an economic point of view. (2 Marks).

• Your answer MUST be in your words.
• You do not need to cite any source.
• Answer should be at least 150 words.

course:Tax and Zakat Accounting