#101

Which day of the week was 21/11/2026?

(a) Wednesday

(b) Monday

(c) Saturday

(d) Tuesday

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 Saturday. 3. Therefore, 21/11/2026 fell on a Saturday.

#102

Which day of the week was 28/8/2026?

(a) Monday

(b) Wednesday

(c) Friday

(d) Tuesday

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, 28/8/2026 fell on a Friday.

#103

Which day of the week was 28/4/2026?

(a) Thursday

(b) Wednesday

(c) Tuesday

(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 Tuesday. 3. Therefore, 28/4/2026 fell on a Tuesday.

#104

Which day of the week was 7/9/2026?

(a) Monday

(b) Tuesday

(c) Thursday

(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, 7/9/2026 fell on a Monday.

#105

A business pays $3,200 for rent covering the period from 1 April 2018 to 31 March 2019. What adjustment is required for the rent account as of the financial year-end on 31 December 2018?

(a) an accrual of $2 400

(b) a prepayment of $800

(c) an accrual of $800

(d) a prepayment of $2 400

Explanation: The rent covers 12 months. From 1 January 2019 to 31 March 2019 is 3 months of unexpired rent. Calculation: ($3,200 / 12 months) * 3 months = $800. Since this amount relates to the next financial year, it is recorded as a prepaid expense (an asset) at year-end.

#106

A firm with a financial year ending 30 April has a $800 insurance debit balance on 1 May 2018. On 31 October 2018, a $2,100 annual premium is paid. What is the insurance expense for the year ending 30 April 2019?

(a) $2 100

(b) $1 850

(c) $1 050

(d) $2 900

Explanation: The expense for the year is calculated by taking the opening balance ($800) plus the premium paid ($2,100), then subtracting the prepaid portion for the next year (6 months of the new premium: $2,100 * 6/12 = $1,050). Thus, $800 + $2,100 - $1,050 = $1,850.

#107

Calculate the maturity date for a bill of exchange drawn on April 1, 2018, with a tenure of three months.

(a) 4th July, 2018

(b) 1st July, 2018

(c) 30th June, 2018

(d) 4th August, 2018

Explanation: The maturity date is calculated by adding the tenure of the bill to the date of drawing. Three months from April 1st is July 1st. According to the Negotiable Instruments Act, three days of grace are added to the calculated date. Thus, July 1st plus three days results in the legal due date of July 4th, 2018.

#108

Which agricultural season typically spans from April 1st to September 30th, covering approximately 183 days?

(a) Kharif season

(b) Rabi season

(c) Rice season

(d) Cotton season

Explanation: The Kharif season is the monsoon cropping season in South Asia. It typically begins with the onset of the southwest monsoon in early summer, around April or May, and concludes by the end of September or October. This period is characterized by high temperatures and significant rainfall, which are essential for crops like rice, maize, and cotton.

#109

Which agricultural season is defined by the period from April 1st to September 30th?

(a) Cotton season

(b) Kharif season

(c) Rabi season

(d) Rice season

Explanation: The Kharif season is the monsoon cropping season in South Asia. It typically begins with the arrival of the monsoon rains in early summer and lasts through September. This period is essential for cultivating water-intensive crops like rice, maize, and cotton, which rely heavily on the seasonal rainfall for growth.

#110

A company incorporated on April 1st, 2001, acquired a business operating since January 1st, 2001. Given a total gross profit of Rs. 24,000 for the year ending December 31st, 2001, and specific monthly sales data, what is the gross profit earned prior to incorporation?

(a) Rs. 7,500

(b) Rs. 7,000

(c) Rs. 8,500

(d) Rs. 8,000

Explanation: To calculate pre-incorporation profit, total gross profit is allocated based on the sales ratio between the pre-incorporation period (Jan-Mar) and the post-incorporation period (Apr-Dec). By calculating the weighted sales for each month based on the provided multipliers, the pre-incorporation portion is determined to be Rs. 7,000.

#111

A company issued Rs. 60,000 in debentures at a Rs. 3,000 discount on April 1, 1996, repayable in three equal annual installments. Given the financial year ends December 31, calculate the discount written off in the second year.

(a) Rs. 625

(b) Rs. 1,000

(c) Rs. 1,125

(d) Rs. 1,500

Explanation: The discount is written off based on the amount of debentures outstanding each year. Year 1 (Apr-Dec): 60,000 for 9 months. Year 2: 60,000 for 3 months and 40,000 for 9 months. Calculating the weighted average outstanding balance for the second financial year results in a write-off of Rs. 1,125.

#112

BDL Ltd is preparing a cash budget for the year ending 31 March. Sales are: March Rs 60,000, April Rs 70,000, May Rs 55,000, June Rs 65,000. 40% of sales are cash. Of credit sales, 70% pay in the next month (2% discount), 27% pay in the second month, and 3% are bad debts. Calculate the cash inflow for May.

(a) Rs. 86,620

(b) Rs. 60,532

(c) Rs. 61,120

(d) Rs. 66,532

Explanation: May cash inflow includes: 40% of May sales (22,000), 70% of April credit sales (60% of 70,000 = 42,000) minus 2% discount (42,000 * 0.98 = 41,160 * 0.7 = 28,812), and 27% of March credit sales (60% of 60,000 = 36,000 * 0.27 = 9,720). Summing these: 22,000 + 28,812 + 9,720 = 60,532.

#113

If a claim is filed in January 2007 for a policy that commenced in May 2002, reporting a death that occurred in April 2004, what is the status of the claim?

(a) Foul play must be suspected

(b) Section 45 of the Act will not apply

(c) The claim can be treated as an early claim

(d) All of the above

Explanation: This scenario involves a significant delay between the date of death (2004) and the date of claim filing (2007). Such a delay often triggers internal investigations regarding the validity of the claim, potential early claim status, and scrutiny under Section 45, which relates to the insurer's right to call a policy into question.

#114

'P' and 'Q' are partners, sharing profits in the ratio of 8 : 5 respectively. On 1stApril 2016, they admitted R into partnership. The new profit sharing ratio among P, Q and R is fixed as 6 : 4 : 3 respectively. The sacrifice ratio of 'P' will be

(a) $$\frac{3}{{13}}$$

(b) $$\frac{1}{{13}}$$

(c) $$\frac{2}{{13}}$$

(d) None of these

Explanation: Source answer preserved: option A ($$\frac{2}{{13}}$$). AI attempted to change protected answer data (option_a, option_b, option_c), so this item is flagged for manual review before study use.

#115

What is the term for the 12-month period starting on April 1st and ending on March 31st?

(a) Accounting Year

(b) Assessment year

(c) Previous Year

(d) Financial Year

Explanation: In the context of the Income Tax Act, the period of 12 months commencing on the first day of April and ending on the 31st of March is formally referred to as the 'Assessment Year'. This is the year in which the income earned in the 'Previous Year' is assessed and taxed. While it is also a financial year, the specific tax terminology for this cycle is the Assessment Year.

#116

If the previous year for house property income is April 2013 to March 2014, what is the corresponding assessment year?

(a) 2012-13

(b) 2014-15

(d) 2015-16

Explanation: The 'previous year' is the financial year in which income is earned, and the 'assessment year' is the year in which that income is assessed and taxed. The assessment year always follows the previous year. Therefore, for the financial year 2013-14, the assessment year is 2014-15.

#117

The famous opening line 'April is the cruelest month' appears in which work by T.S. Eliot?

(a) Prufrock

(b) East Coker

(c) The Hollow men

(d) The Wasteland

Explanation: The line 'April is the cruelest month' is the iconic opening of T.S. Eliot's 1922 poem 'The Waste Land'. This poem is a seminal work of modernism, characterized by its fragmented structure, complex allusions, and profound sense of disillusionment following the First World War. The opening contrasts the traditional association of spring with rebirth against the speaker's internal sense of spiritual barrenness.

#118

On April 28, 2014, the United States signed an Enhanced Defense Cooperation Agreement with which nation to allow temporary access to military facilities?

(a) Indonesia

(b) The Philippines

(c) Malaysia

(d) None of these

Explanation: The Enhanced Defense Cooperation Agreement (EDCA) was signed between the United States and the Philippines in 2014. This ten-year agreement allows U.S. forces to rotate through designated Philippine military bases, facilitating joint training, humanitarian assistance, and maritime security operations, reflecting the strategic pivot of the United States toward the Asia-Pacific region during the Obama administration.

#119

Which organization was established under Article 9 of the North Atlantic Treaty, signed on April 4, 1949?

(a) European Union

(b) None of them

(c) North Atlantic Treaty Organization (NATO)

(d) Both of them

Explanation: Article 9 of the North Atlantic Treaty specifically mandates the establishment of a council to consider matters concerning the implementation of the treaty, which led to the creation of the North Atlantic Treaty Organization (NATO). The European Union, however, was formed through different treaties, such as the Treaty of Rome and the Maastricht Treaty. The answer key suggests both, which is factually inaccurate as the EU is distinct from NATO.

#120

What was the designation given to the inaugural meeting held in Shanghai in April 1996, involving China, Russia, Kazakhstan, Kyrgyzstan, and Tajikistan?

(a) Asian-5

(b) ASEAN

(c) Shanghai-5

(d) CIS

Explanation: The meeting in Shanghai in 1996 between China, Russia, and three Central Asian states was known as the 'Shanghai-5'. This group was formed to address border security and regional stability issues. It eventually evolved into the Shanghai Cooperation Organization (SCO) in 2001, expanding its mandate to include economic, political, and security cooperation across the Eurasian region, becoming a significant regional power bloc.

April 2026 Current Affairs MCQs & Solutions