DAILY CURRENT AFFAIRS QUIZ – 26 May 2025

Answer: (b) 1 and 3 only

Explanation:

• Statement 1: Correct. Darwin’s finches originated from a common ancestral species.
• Statement 2: Incorrect. They are endemic to the Galápagos Islands and Cocos Island, not the Hawaiian Islands.
• Statement 3: Correct. Their beak shapes have evolved to adapt to various food types available across the islands.

Answer: (a) 1 and 2 only

Explanation:

• Statement 1: Correct. The Jordan Valley is part of the East African Rift System.
• Statement 2: Correct. It lies along Jordan’s western border with Israel and the West Bank.
• Statement 3: Incorrect. The Dead Sea in the Jordan Valley is the lowest natural point, not the entire valley.

Answer: (a) 1 only

Explanation:

• Statement 1: Correct. Article 142 allows the Supreme Court to pass necessary orders or decrees for doing complete justice in any matter before it.
• Statement 2: Incorrect. Article 142 grants the power to deliver justice in exceptional cases but does not allow the Court to override laws arbitrarily; its power is limited by substantive law.
• Statement 3: Incorrect. The power under Article 142 is vested in the Supreme Court, not the High Courts.

Answer: (b) 2 and 3 only

Explanation:

• Statement 1: Incorrect. Stratovolcanoes are tall, steep, and cone-shaped, not flat.
• Statement 2: Correct. The magma in stratovolcanoes is viscous and often traps gases, leading to explosive eruptions.
• Statement 3: Correct. Stratovolcanoes occur at the margins of tectonic plates, where one plate is subducted beneath another.

Answer: a) 1, 2 and 3 only

Explanation: The correct answer is option a) 1, 2 and 3 only. Let’s examine each statement:

1. Correct: Angel tax is indeed levied at a rate of 30.6% on unlisted companies when they issue

shares at a price higher than their fair market value.

2. Correct: The tax applies when an unlisted company issues shares to an investor at a price

higher than its fair market value. Fair market value is defined as the price of an asset when

both buyer and seller have reasonable knowledge of it and are willing to trade without

pressure.

3. Correct: The Finance Act, 2023 extended the applicability of Angel Tax to include foreign

investors. Previously, it was only applicable to investments made by resident investors.

4. Incorrect: DPIIT-recognized start-ups are now excluded from the angel tax levy. This is an

important exception to the rule and makes this statement false.

Therefore, statements 1, 2, and 3 are correct, while statement 4 is incorrect. This makes option a) the

correct answer.