Quest Daily CA Quiz 07-07-2025

Quest Daily CA Quiz 07-07-2025

Test your knowledge with today's current affairs

  1. Question 1: With reference to India’s recent foreign trade trends, consider the following statements: I. In 2024-25, India earned more from services and remittances than from merchandise exports. II. The growth in India's invisible exports has largely been driven by agriculture and textiles. Which of the following above statements are correct? I only II only Both I and II Neither I nor II

    • I only
    • II only
    • Both I and II
    • Neither I nor II

  2. Question 2: Which of the following best describes the Gini Index?

    • A statistical measure of a country's total national income
    • A statistical measure representing income or wealth inequality within a population
    • A global metric to assess inflationary trends in developing economies
    • A global index that ranks countries based on their economic growth rates

  3. Question 3: Consider the following statements: Statement I: The Great Nicobar Island Project (GNIP) was launched to develop strategic infrastructure at the southern end of the Andaman and Nicobar Islands. Statement II: GNIP is strategically located near the Malacca Strait, connecting the Indian Ocean to the Pacific and boosting maritime trade. Statement III: NITI Aayog identified GNI’s location as ideal for tapping into regional shipping between Colombo, Port Klang, and Singapore. Which one of the following is correct in respect of the above statements?

    • Both Statement II and Statement III are correct and both of them explain Statement I
    • Both Statement II and Statement III are correct but only one of them explains Statement I
    • Only one of the Statements II and III is correct and that explains Statement I
    • Neither Statement II nor Statement III is correct

  4. Question 4: Consider the following statements: Statement I: Carbon credits promote global emissions reduction by putting a price on carbon and incentivizing cleaner alternatives. Statement II: Under the cap-and-trade system, companies emitting less than their quota can sell their surplus permits to others. Which one of the following is correct in respect of the above statements?

    • Both Statement I and Statement II are correct and Statement II explains Statement I
    • Both Statement I and Statement II are correct but Statement II does not explain Statement I
    • Statement I is correct but Statement II is not correct
    • Statement I is not correct but Statement II is correct

  5. Question 5: With reference to the Sixth Schedule, consider the following statements: I. It applies to Assam, West Bengal, Tripura, and Arunachal Pradesh. II. It empowers the President of India to establish Autonomous District Councils (ADCs) and Autonomous Regional Councils (ARCs). III. It empowers Councils to grant licenses or leases for mining and mineral extraction within their area. How many of the above statements are correct?

    • Only one
    • Only two
    • All the three
    • None