MCQ Bank
Under which of the following condition, a Musharakah is not terminated?
- A) When a partner draw money for personal use
- B) When one or both partners become mentally unsound
- C) When a partner dies
- D) When a partner withdraws from the partnership business
You give an item to a person and he accepted that (without any exchange) is knows as………..in the Sharia.
- A) Kafala
- B) Hasna
- C) Hiba
- D) Hawala
Which of the following is true about Shirakat-ul-Inan?
- A) Compatriots in faith
- B) A minor and an adult can enter into partnership.
- C) The amount of capital by each party must be equal
- D) Loss of business will be shared equally
The term relating to specific quality of the product in a sale is known as…………………
- A) Khiyaar-e-Wasf
- B) Khiyaar-e-Aib
- C) Khiyaar-e-Roiyyat
- D) Khiyaar-e-Shart
Gambling and------------- have been forbidden in the same verse of Quran.
- A) Drugs
- B) Alcohol
- C) Adultery
- D) Pork
The object of a contract ………………….at the time of contract.
- A) Should be in existence
- B) Should be present in front of buyer
- C) Should not be present in front of buyer
- D) Should not exist
Man has been appointed vicegerent on earth and he has been charged with the duty of achieving well-being …………………….
- A) In his name only
- B) In hereafter only
- C) In both worlds
- D) In this world only
One of the important condition for Muzarrah is that ….…………
- A) The land must be cultivable
- B) The land must be un-cultivable
- C) The land must be dry
- D) The land must be in dessert
Literal meaning of Riba is to?
- A) Decline
- B) Decrease
- C) Constant
- D) Increase
Hiba is an example of a non-compensatory contract.
- A) False
- B) True
- C)
- D)
Which of the following term is not part of the definition of Modarbah?
- A) Ras al Mal
- B) Madroob
- C) Rab al Mal
- D) Modarib
Which of the following is not the right of an individual regarding ownership of goods and property?
- A) The right to use for family-benefit
- B) The right to use for self-benefit
- C) The right to use for public-benefit
- D) The right to use for self-destruction
To form a contract the expression of both offer and acceptance could be?
- A) Verbal
- B) Implied
- C) All of the given options
- D) Written
Islam allows a person to make a will of only …………….. portion of his estate.
- A) 25%
- B) 75%
- C) 33%
- D) 50%
Price will be made later on and subject matter will also be delivered later on is called……………..
- A) Deferred price sale
- B) Future sale
- C) Spot price sale
- D) Advance sale
The term of accepting or rejecting the goods on inspection in a sale is called…………….
- A) Khiyaar-e-Aib
- B) Khiyaar-e-Shart
- C) Khiyaar-e-Roiyyat
- D) Khiyaar-e-Ghaban
Which of the following is a social disaster that ruined a large number of families?
- A) Business
- B) Gambling
- C) Charity
- D) Social work
Which of the following is not a mode of ownership of goods?
- A) Through inheritance
- B) Through contract
- C) Through increase in value
- D) Through stealing
In an Islamic contract the consideration ……………left to be determined on a later date.
- A) Is always
- B) Can be
- C) Must be
- D) Can not be
Which of the following transactions may be called as Bai Muqayazah?
- A) Exchange of barley for 190 Rupees
- B) Exchange of rice for 170 Rupees
- C) All of the given options
- D) Exchange of rice with wheat