Wealth Subject to Zakat in Islam
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Questions and Answers

What is a fundamental requirement for wealth to be considered eligible for zakat?

The wealth must have the potential of growth (increase from time to time)

According to the majority of jurists, what is a necessary prerequisite for performing zakah?

Intention

What is the primary purpose of zakat accounting?

The calculation, reviewing, and announcing of zakat on money/wealth

What is the primary factor that distinguishes zakat-exempt assets from zakat-liable assets?

<p>Growth potential</p> Signup and view all the answers

What is the significance of the lunar year in calculating zakat?

<p>Zakat is calculated based on the lunar year</p> Signup and view all the answers

What is the term for the minimum amount of wealth required for zakat to be applicable?

<p>Nisab</p> Signup and view all the answers

What types of modern wealth are subject to zakat?

<p>Exploited assets or fixed assets that have growth potential</p> Signup and view all the answers

How does Al Awza'i's view on intention differ from the majority of jurists?

<p>Al Awza'i does not consider intention a necessary requirement for performing zakah</p> Signup and view all the answers

What is the primary purpose of calculating the zakat base?

<p>To determine the amount of zakat due</p> Signup and view all the answers

What is the role of zakat statements and reports in the zakat accounting process?

<p>To provide a transparent and accurate record of zakat payment</p> Signup and view all the answers

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