What will be the value of quarter in the statement if today is March 5?

The value of the quarter in the statement, given that today is March 5, is determined by understanding how quarters are defined in a calendar year. Quarters divide the year into four parts:

• The first quarter (Q1) includes January, February, and March.

• The second quarter (Q2) encompasses April, May, and June.

• The third quarter (Q3) covers July, August, and September.

• The fourth quarter (Q4) includes October, November, and December.

Since March falls within the first three months of the year, it is part of the first quarter. When referencing "quarter," it signifies the quarter number within the calendar year. Therefore, if today's date is March 5, it falls under the first quarter, which is identified as quarter 1.

Understanding this structure helps one deduce that the correct value for quarter in this scenario is indeed 1. This logic provides a clear foundation for identifying the quarters of the year based on calendar dates.