Quest Daily CA Quiz 07-08-2026

Quest Daily CA Quiz 07-08-2026

Test your knowledge with daily current affairs

  1. Question 1: With reference to the GOBARdhan (National Circular Bioenergy Scheme), consider the following statements: 1. The scheme is administered by the Ministry of New and Renewable Energy. 2. It aims to establish Compressed Natural Gas (CNG) as a major component of India's future energy mix. 3. The infrastructure components under this scheme are covered under the Production Linked Incentive scheme. Which of the statements given above is/are not correct?

    • 2 only
    • 2 and 3 only
    • 1 and 3 only
    • 1,2 and 3

  2. Question 2: 'X' and 'Y' were discussing the significance of National Handloom Day in India. 'X' stated that National Handloom Day is observed to commemorate the launch of the Swadeshi Movement in 1905, which promoted indigenous goods and self-reliance. 'Y' argued that the observance is linked to Mahatma Gandhi's promotion of khadi and village industries during the Non-Cooperation Movement, as khadi became the principal symbol of India's freedom struggle. 'Y' was not convinced by 'X's explanation. Based on the above, select the correct conclusion from the options given below:

    • The view of only 'X' is correct.
    • The view of only 'Y' is correct.
    • The views of both 'X' and 'Y' are correct.
    • Neither 'X' nor 'Y' is correct.

  3. Question 3: Consider the following statements about the Nutrient Based Subsidy (NBS) Scheme: 1. It is a central sector scheme launched by the Department of Fertilisers, Ministry of Agriculture and Farmers Welfare. 2. It covers only phosphatic and potassic fertilisers. 3. The subsidy is provided to manufacturers/importers based on nutrient content. How many of the above given statements is/are correct?

    • 1
    • 2
    • 3
    • None

  4. Question 4: Consider the following statements regarding the Motor Vehicles Act 1988: 1. It regulates the licensing of drivers and registration of motor vehicles. 2. It provides for compulsory third-party insurance for motor vehicles. Which of the statements given above is/are correct?

    • 1 only
    • 2 only
    • Both 1 and 2
    • Neither 1 nor 2

  5. Question 5: With reference to water as a resource, consider the following statements: Statement I: Parliament can regulate and develop inter-State rivers and river valleys in the public interest. Statement II: Water is a Concurrent Subject under the Seventh Schedule of the Indian Constitution. 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 incorrect
    • Statement I is incorrect, but Statement II is correct

  6. Question 6: With reference to the Sun, consider the following statements: 1. The visible surface of the Sun is known as the photosphere. 2. Sunspots are relatively cooler regions associated with intense magnetic activity. 3. Solar flares originate due to the sudden release of magnetic energy. Which one of the following conclusions based on the above statements is correct?

    • All the three statements are correct.
    • There are two correct statements, that include statement 2.
    • There is only one correct statement.
    • There is no correct statement.

  7. Question 7: Which one of the following best describes the Merchant Discount Rate (MDR)?

    • A fee charged by banks or payment service providers to merchants for processing digital payment transactions.
    • A service charge collected by the Reserve Bank of India from customers for using digital payment systems.
    • A tax imposed by the Government on all digital transactions conducted through UPI and RuPay.
    • A subsidy provided to merchants to promote the adoption of digital payment infrastructure.

  8. Question 8: Consider the following statements regarding the concept of the "Creamy Layer": 1. It was first evolved by the Supreme Court in the Indra Sawhney case (1992). 2. It presently applies to Other Backwards Classes (OBCs) in public employment. 3. This principle is primarily intended to exclude the socially advanced sections among backward classes from reservation benefits. 4. Parliament alone has the exclusive authority by law to include or exclude any community, caste, or tribe from the official Scheduled Castes (SC) and Scheduled Tribes (ST) lists. Which one of the following conclusions based on the above statements is correct?

    • There are four correct statements.
    • There is only one correct statement, that is statement 2.
    • There are two correct statements, that include statement 1.
    • There is no correct statement.

  9. Question 9: Consider the following statements regarding the Appropriation Bill: 1. It authorises the withdrawal of money from the Consolidated Fund of India to meet government expenditure. 2. It can be introduced only after the demands for grants have been voted by the Lok Sabha. 3. It includes both voted expenditure and charged expenditure. 4. The Rajya Sabha can amend the Appropriation Bill before returning it to the Lok Sabha. How many of the above statements are correct?

    • Only one
    • Only two
    • Only three
    • All four