TESTfunda - CAT Question of the Day 23-Feb-14

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	23-Feb-14 TestFunda Home | Sign up for Newsletters | Feedback CAT Question of the Day Answer the question based on the passage given below.   Debt Assumption, or simply assumption, was a US financial policy executed under the Funding Act of 1790. The Washington administration pursued the policy, under Secretary of the Treasury Alexander Hamilton's leadership, to assume the outstanding debt of those states which had not yet repaid their American Revolutionary War bonds and scrip. The policy of assumption, Hamilton argued, required expanded federal taxation. Hamilton instituted the first tax on a domestic product - whiskey. Some western farmers, many of them veterans of the Revolution, who were reliant on whiskey as a medium of exchange said the tax betrayed the ideals of the Revolution. The need for the Debt Assumption law was perceived because - OPTIONS     1) Hamilton wished to fill the Treasury's coffers by taxing domestic products.   2) Some  states had yet to repay their outstanding debts which gave rise to federal taxation.   3) Some states, such as Virginia, had already repaid their debt while others had not.   4) Western farmers could not be compelled to pay the American Revolutionary War bonds and scrip. discuss | yesterday's solution | more questions Tip of the Day In the Jumbled Sentences questions, watch out for any chronology clues - specific order of events taking place one after the other. more tips Last year's Question of the day (22-Feb-13) All possible 6 digit numbers, in each of which the digits occur in non - increasing order (from left to right) are written in increasing order. Find the 500th number in this sequence. OPTIONS     1) 632100   2) 622110   3) 633110   4) 642100 discuss TestFunda.com - LEARN with THE LEADER in Online MBA Test Prep Demo Lessons   |   Take a Demo Test   |   Buy Courses   |   Fun Learning Games   |   100-Percentilers About TestFunda.com - TestFunda is backed by www.ZeusLearning.com. 3 IIT-IIM graduates form the Management Team. - The 85+ member team has vast experience in MBA Coaching and Computer-Based Training and Testing. - For 12 years Zeus has created award-winning courseware for companies like Discovery Channel, Reader's Digest, Texas Instruments, Pearson Education. - The TestFunda Advisory Board comprises CEOs and MDs of international educational companies. About This Newsletter You received this email because you have registered with www.TestFunda.com. If you do not want to receive this email or want to sign up for other newsletters from TestFunda  click here. Please do not reply to this mail. Mails sent to this account will not be monitored. Post your comments and solutions under the Question of the Day forum. Problems getting this mail? To get this mail in your inbox, add noreply@testfunda.com to your contact list.       UNSUBSCRIBE / SUBSCRIBE | ABOUT | WHY TESTFUNDA | FAQ | PRIVACY | SUPPORT | CONTACT | DISCUSS   © Enabilon Learning Private Limited. All rights reserved