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QUIZ – 2017: Insights Current Affairs Quiz, 05 November 2019
- November 5, 2019
- Posted by: InsightsIAS
- Category: Quiz 2019
QUIZ – 2017: Insights Current Affairs Quiz, 05 November 2019
QUIZ – 2017: Insights Current Affairs Quiz
The following quiz will have 5-10 MCQs. The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2018. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam. To view Solutions, follow these instructions: Click on – ‘Start Quiz’ button Solve Questions Click on ‘Quiz Summary’ button Click on ‘Finish Quiz’ button Now click on ‘View Questions’ button – here you will see solutions and links.
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You have reached 0 of 0 points, (0) Which of the following are called Cotton Four Countries? Select the correct answer code: Solution: b) 7 October was observed as World Cotton Day, an initiative of the so-called Cotton Four (Benin, Burkina Faso, Chad and Mali), supported by the WTO and a few United Nations (UN) organizations. Solution: b) 7 October was observed as World Cotton Day, an initiative of the so-called Cotton Four (Benin, Burkina Faso, Chad and Mali), supported by the WTO and a few United Nations (UN) organizations. Consider the following statements. The above statements refer to Solution: d) September 4, 2019 was the 194th birth anniversary of Dadabhai Naoroji, the “Grand Old Man of India”, who was among the first leaders who stirred national consciousness in the country. He served as the first Indian member of the British parliament. Solution: d) September 4, 2019 was the 194th birth anniversary of Dadabhai Naoroji, the “Grand Old Man of India”, who was among the first leaders who stirred national consciousness in the country. He served as the first Indian member of the British parliament. Consider the following statements regarding Gold reserves, according to the latest release by the World Gold Council. Which of the above statements is/are correct? Solution: c) As per the World Gold Council’s (WGC) data, India has 618.2 tonnes of the yellow metal as holdings, which is 6.9 per cent of the share held in gold in total foreign reserves. United States (US) has the largest holding with 8133.5 tonnes, followed by Germany with 3366 tonnes and the International Monetary Fund (IMF) with 2814 tonnes. India has pipped the Netherlands to move into the list of top ten countries in terms of total gold reserves. In terms of individual countries, India actually ranks ninth since the International Monetary Fund (IMF) occupies the third position after the U.S. and Germany. Solution: c) As per the World Gold Council’s (WGC) data, India has 618.2 tonnes of the yellow metal as holdings, which is 6.9 per cent of the share held in gold in total foreign reserves. United States (US) has the largest holding with 8133.5 tonnes, followed by Germany with 3366 tonnes and the International Monetary Fund (IMF) with 2814 tonnes. India has pipped the Netherlands to move into the list of top ten countries in terms of total gold reserves. In terms of individual countries, India actually ranks ninth since the International Monetary Fund (IMF) occupies the third position after the U.S. and Germany. Consider the following statements about Advance Pricing Agreement (APA). Which of the above statements is/are correct? Solution: a) The Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing Agreements (APAs) in the first 5 months of the financial year (April to August, 2019). An advance pricing agreement (APA) is an ahead-of-time agreement between a taxpayer and a tax authority on an appropriate transfer pricing methodology. An APA provides certainty with respect to the tax outcome of the tax payer’s international transactions. An APA can be one of the three types – unilateral, bilateral and multilateral. Solution: a) The Central Board of Direct Taxes (CBDT) has entered into 26 Advance Pricing Agreements (APAs) in the first 5 months of the financial year (April to August, 2019). An advance pricing agreement (APA) is an ahead-of-time agreement between a taxpayer and a tax authority on an appropriate transfer pricing methodology. An APA provides certainty with respect to the tax outcome of the tax payer’s international transactions. An APA can be one of the three types – unilateral, bilateral and multilateral. Consider the following statements regarding e-Assessment Scheme. Which of the above statements is/are correct? Solution: a) Centre Government had recently notified e-Assessment scheme to facilitate faceless assessment of income tax returns through completely electronic communication between tax officials and tax payers. There would be a National e-Assessment Centre (NeAC) in Delhi to be headed by Principal Chief Commissioner of Income Tax (Pr.CCIT). There are 8 Regional e-Assessment Centres (ReAC) set up at Delhi, Mumbai, Chennai, Kolkata Ahmedabad, Pune, Bengaluru and Hyderabad which would comprise Assessment unit, Review unit, Technical unit and Verification units. Each ReAC will be headed by Chief Commissioner of Income Tax (CCIT). Solution: a) Centre Government had recently notified e-Assessment scheme to facilitate faceless assessment of income tax returns through completely electronic communication between tax officials and tax payers. There would be a National e-Assessment Centre (NeAC) in Delhi to be headed by Principal Chief Commissioner of Income Tax (Pr.CCIT). There are 8 Regional e-Assessment Centres (ReAC) set up at Delhi, Mumbai, Chennai, Kolkata Ahmedabad, Pune, Bengaluru and Hyderabad which would comprise Assessment unit, Review unit, Technical unit and Verification units. Each ReAC will be headed by Chief Commissioner of Income Tax (CCIT). INSIGHTS CURRENT EVENTS QUIZ 2019
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