State whether the following statements are true or false. 4) Financial year in India is a leap year.

State whether the following statements are true or false.

4) Financial year in India is a leap year.

Answer: 

Financial year in India is a leap year. - False
Explanation:

The above statement is incorrect. Leap year is a year containing 366 days and comes after every four years. Whereas, the financial year is from 1st April to 31st March of every year and contains either 365 or 366 days. Thus, it is not necessarily a leap year.

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