Which of the following is the actual definition of transfer payments?
Q. Which of the following is the actual definition of transfer payments?
- Transfer payments refer to the payments made as compensation to the employees within an organisation
- Transfer payments refer to the payments made to workers on transferring from one job to another
- Transfer payments refer to the payments made without any exchange of goods and services
- None of the above
Answer: Transfer payments refer to the payments made without any exchange of goods and services
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