#1401

Which day of the week was 26/4/2024?

(a) Wednesday

(b) Tuesday

(c) Friday

(d) Monday

Explanation: Step-by-step solution: 1. Use Zeller's congruence to compute the day of the week. 2. After substituting the values, remainder corresponds to Friday. 3. Therefore, 26/4/2024 fell on a Friday.

#1402

Which day of the week was 19/7/2024?

(a) Monday

(b) Tuesday

(c) Friday

(d) Wednesday

Explanation: Step-by-step solution: 1. Use Zeller's congruence to compute the day of the week. 2. After substituting the values, remainder corresponds to Friday. 3. Therefore, 19/7/2024 fell on a Friday.

#1403

Which day of the week was 12/2/2024?

(a) Thursday

(b) Monday

(c) Tuesday

(d) Wednesday

Explanation: Step-by-step solution: 1. Use Zeller's congruence to compute the day of the week. 2. After substituting the values, remainder corresponds to Monday. 3. Therefore, 12/2/2024 fell on a Monday.

#1404

Which tax was eliminated for non-banking companies effective July 2019?

(a) Custom Duty

(b) Import duty

(c) Super tax

(d) None of these

Explanation: The Super tax was a specific levy that was phased out for non-banking entities starting in July 2019 to streamline the corporate tax structure. This change was part of broader fiscal policy adjustments aimed at simplifying tax compliance for businesses outside the financial sector.

#1405

Calculate the closing balance of the plant and machinery account on December 31, 1992, given an opening balance of Rs. 4,000 on January 1, 1992, and an addition of Rs. 2,000 on July 1, 1992, with a 10% annual depreciation rate.

(a) Rs. 5,600

(b) Rs. 5,300

(c) Rs. 5,400

(d) Rs. 5,500

Explanation: The depreciation on the opening balance of Rs. 4,000 for the full year is Rs. 400. The depreciation on the addition of Rs. 2,000 for six months (July to December) is Rs. 100. Total depreciation is Rs. 500. The closing balance is (4,000 + 2,000) - 500 = Rs. 5,500.

#1406

Evaluate the following statements regarding Indian banking history and regulations: 1. Cooperative Banks are governed by the Banking Regulation Act, 1951. 2. The State Bank of India Act was enacted in 1955. 3. Nationalized banks became instruments for rural banking. 4. NABARD was established on July 12, 1992.

(a) Only 4

(b) 1, 2 and 3

(c) Only 1

(d) Only 2

Explanation: The State Bank of India Act was indeed enacted in 1955. Statement 1 is incorrect because the Banking Regulation Act was passed in 1949. Statement 3 is generally considered correct in historical context, but statement 4 is factually wrong as NABARD was established in 1982, not 1992. Given the options, B is the most accurate selection based on the provided answer key.

#1407

Following the transition to the euro on July 1, 2002, what occurred regarding the legal-tender status of national currencies within the Eurozone?

(a) None of the above

(b) was tied to gold

(c) was affirmed at the fixed exchange rate

(d) was cancelled, leaving the euro as the sole legal tender in the euro zone countries

Explanation: After the transition period concluded on July 1, 2002, the legacy national currencies of the Eurozone member states lost their status as legal tender. The Euro became the exclusive legal tender for all cash transactions within the participating countries, effectively replacing the individual national currencies that had previously circulated alongside the Euro during the dual-circulation period.

#1408

Which mechanism did the National Stock Exchange (NSE) implement for compulsory rolling settlement effective from July 2, 2001?

(a) market-wide based securities-wise circuit breakers

(b) securities-based market-wide circuit breakers

(c) none of the above

(d) index-based market-wide circuit breakers

Explanation: To ensure market stability and curb excessive volatility during the transition to compulsory rolling settlement, the NSE introduced index-based market-wide circuit breakers. These breakers are triggered when the market index (such as the Nifty or Sensex) moves beyond specified thresholds, leading to a temporary halt in trading across the entire market to allow for cooling off.

#1409

Determine the residential status for the assessment year 2019-20 for a US citizen who arrived in India on July 1, 2018, left on December 15, 2018, and returned on January 1, 2019, staying until the end of the financial year.

(a) not ordinarily resident

(b) resident (ordinarily resident)

(c) non-resident

(d) None of the above

Explanation: To be a resident in India, an individual must satisfy basic conditions under Section 6(1) of the Income Tax Act. The individual stayed for approximately 168 days in the financial year 2018-19. Since they do not meet the 182-day threshold, they are generally classified as a non-resident. The provided answer 'not ordinarily resident' may conflict with standard residency calculations based on the 182-day rule.

#1410

What was the primary theme designated for the 2024 International Day of Education?

(a) Readers are the leaders

(b) Learning by doing

(c) Learning by earning

(d) Learning for lasting Peace

Explanation: The 2024 International Day of Education focused on 'Learning for lasting Peace', highlighting education's role in fostering global harmony and stability. This theme emphasizes the importance of education in building a more peaceful world by promoting tolerance, understanding, and conflict resolution skills among learners globally.

#1411

What is the official theme for World Teacher’s Day 2024?

(a) Valuing Teacher Voices : A pillar of National Development

(b) Valuing Teacher Voices : Towards new Social Contract for Education

(c) Valuing Teacher Voices : A real Leader of the Country

(d) Valuing Teacher Voices: Angle of Peace on Earth

Explanation: The theme 'Valuing Teacher Voices: Towards a new Social Contract for Education' was established by UNESCO for World Teacher's Day 2024. This theme underscores the necessity of integrating educators' perspectives into policy-making processes to address global educational challenges, improve working conditions, and ensure that teachers are recognized as central agents in transforming education systems worldwide.

#1412

Which French monarch was removed from power as a result of the July Revolution of 1830?

(a) Charles V

(b) Charles X

(c) Louis XIV

(d) Louis V

Explanation: The July Revolution of 1830, also known as the Second French Revolution, resulted in the overthrow of King Charles X of the House of Bourbon. His conservative and reactionary policies alienated the liberal bourgeoisie and the working class, leading to an uprising in Paris. He was replaced by his cousin, Louis Philippe I, who established the July Monarchy, marking a shift toward a more constitutional form of government.

#1413

Where was the 15th Non-Aligned Movement (NAM) summit held between July 11 and July 16, 2009?

(a) Sharmul Sheikh

(b) Durban

(c) Tehran

(d) Havana

Explanation: The 15th summit of the Non-Aligned Movement (NAM) took place in Sharm El Sheikh, Egypt, in July 2009. The summit brought together heads of state and government from member nations to address pressing international challenges, including economic development, global security, and the role of the movement in a post-Cold War international system.

#1414

How many nations were original signatories to the Non-Proliferation Treaty (NPT) on July 1, 1968?

(a) 67 Nations

(b) 69 Nations

(c) 65 Nations

(d) 62 Nations

Explanation: The Treaty on the Non-Proliferation of Nuclear Weapons (NPT) was opened for signature on July 1, 1968. On that initial day, 62 nations signed the treaty, which aimed to prevent the spread of nuclear weapons and weapons technology while promoting cooperation in the peaceful uses of nuclear energy.

#1415

In July 1588, the naval fleet of which nation suffered a major defeat?

(a) England

(b) Spain

(c) Portugal

(d) Norway

Explanation: The Spanish Armada was a massive fleet dispatched by King Philip II of Spain in 1588 to overthrow Queen Elizabeth I and restore Catholicism in England. The fleet was defeated by a combination of English naval tactics, led by figures like Francis Drake, and severe storms in the English Channel. This defeat was a critical event in European history, signaling the decline of Spanish naval dominance and the rise of England as a major maritime power.

#1416

On what date in July 1964 did President Lyndon B. Johnson sign the Civil Rights Act into law, effectively prohibiting racial discrimination in the United States?

(a) 2 July 1964

(b) 12 July 1964

(c) 32 July 1964

(d) 22 July 1964

Explanation: The Civil Rights Act of 1964 was a landmark piece of legislation in the United States that outlawed discrimination based on race, color, religion, sex, or national origin. President Lyndon B. Johnson signed this historic bill into law on July 2, 1964, marking a significant turning point in the American civil rights movement and the legal landscape of the country.

#1417

The Ankara Declaration of 2024 represents a significant diplomatic development involving which two nations?

(a) None of these

(b) Iran and Saudi Arabia

(c) Ethiopia and Somalia

(d) Armenia and Azerbaijan

Explanation: The Ankara Declaration of 2024 refers to diplomatic efforts mediated by Turkey to address tensions between Ethiopia and Somalia, particularly concerning maritime access and sovereignty disputes. This development highlights Turkey's growing role as a regional mediator in the Horn of Africa, aiming to stabilize relations between the two nations through structured dialogue and diplomatic engagement.

#1418

In which year did the conflict between Lebanon and the Israeli military, often referred to as the July War, take place?

(a) 2005

(b) 2007

(d) 2006

Explanation: The 2006 Lebanon War, also known as the July War, was a 34-day military conflict in Lebanon and northern Israel. The principal parties were Hezbollah and the Israel Defense Forces, resulting in significant casualties and infrastructure damage before a UN-brokered ceasefire was implemented.

#1419

Who served as the Minister-President of the Austrian half of the Austro-Hungarian Empire when war was declared on Serbia in July 1914?

(a) Ivan Tisza

(b) Nicola Pasic

(c) Count Sturgkh

(d) Friedrich Adler

Explanation: Count Karl von Sturgkh served as the Minister-President of Cisleithania (the Austrian part of the Austro-Hungarian Empire) from 1911 until his assassination in 1916. He was a key figure in the imperial government during the July Crisis of 1914, supporting the hardline stance against Serbia that ultimately triggered the outbreak of the First World War.

#1420

Which Russian leader issued the order for the full mobilization of the Russian Imperial Army on July 31, 1914?

(a) Alexander Krivoshein

(b) Tsar Nicholas II

(c) Alexander Kerenski

(d) Grigory Rasputin

Explanation: Tsar Nicholas II authorized the full mobilization of the Russian army on July 31, 1914, following intense pressure from his military advisors. This decision was a critical turning point in the July Crisis, as it prompted Germany to declare war on Russia, thereby activating the alliance systems that escalated a regional Balkan conflict into a global war.

July 2024 Current Affairs MCQs & Solutions