All rights reserved. In macroeconomics and finance, a transfer payment (also called a government transfer or simply transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. Recipients of transfer payments are sometimes not citizens of the United States. The bank transfers $10 quarterly interest to your savings account. Become a Study.com member to unlock this The transferred payment does not require a responding action from the recipient of the payment (i.e., exchange of money, products, or service). Try this amazing SAP Post-test 1 quiz which has been attempted 443 times by avid quiz takers. ____ 26. The government sends your grandfather his Social Security check. In the accounting equation, Assets = Liabilities + Equity, so, if an asset account increases (a debit (left)), then either another asset account must decrease (a credit (right)), or a … 12) A transfer payment is A) a bonus to get a worker to accept a transfer. Median response time is 34 minutes and may be longer for new subjects. You transfer $1,000 from your bank account to a mutual fund. A) The federal government pays a defense contractor for development of a missile system. Sup... A: The investment demand curve reflects a negative relationship between investment demand and interest ... Q: Which of the following is always true?A) When marginal costs are less than average total costs, aver... A: Below are the cost curves: (Sorry it’s a free hand diagram so it is not very neat). All payments due under this Agreement shall be made from a bank located in the United States by bank wire transfer in immediately available funds to a bank account designated by Editas.All payments hereunder shall be made in U.S. dollars. D) an in kind payment for workingʺ off the books.ʺ Answer: B The lender can demand full payment of the mortgage. Providing low-income families with funds to buy food is an example of a transfer payment. On December 1, 2011, how much interest is accrued on this loan? ... A: Since we answer only one question at a time, we will answer only the first question. Which of the following transactions best represents the government making a transfer payment to a household or business? b. the government sends your grandfather his Social Security check. Electronic Data Interchange (EDI) 2. Economics Q&A Library Which of the following represents a transfer payment? Hence, they are all transfer payments. 8. Which of the following is/are the example(s) of Transfer Payment(s)? d. Ralph’s payments are definitely included in GDP, while the estimated value of Mike’s mowing services is included in GDP only if Mike voluntarily provides his estimate of that value to the government. Q: 57 A transfer payment is a payment of money for which there are no goods or services exchanged. Transfer payments are not included in Gross Domestic Product (GDP) because the payments contribute to the creation of new products or services and are expenditures that represent the allocation of funds from the government to another party. Which of the following represents a transfer payment? You make a payment to get legal documents showing you purchased a previously owned home. The government sends your grandfather his Social Security check. Which of the following transactions represents a transfer payment? Debits and credits occur simultaneously in every financial transaction in double-entry bookkeeping. Saved Electronic Mail (e-mail) 3. Sciences, Culinary Arts and Personal No. a. Payment of salary 3. The correct answer is C) the government directly pays the health care expenses of senior citizens. a. 0 Homework Which of the following is an in-kind transfer? a. personal interest b. proprietor's income c. wages and salaries d. rental income e. transfer payments 7. A transfer payment is a payment from the government to the private sector that is not intended to reimburse the public sector for delivering a good or service. If you want to ... *Response times vary by subject and question complexity. a. Bitcoin payment services allow a borderless payment network, which enables seamless transfer of bitcoins in any amount from anywhere across … (a) Pension (b) Unemployment Allowance (c) Gift (d) All of thes… Which of the following represents a transfer payment? You transfer $1,000 from your bank account to … Ecommerce refers to the paperless exchange of business information using the following ways − 1. 5. The following table shows the production function for a bicycle manufacturer: The investment demand curve for a country is shown on the graph below. a. $3,200 C. $6,933 D. $18,933 Remember that transfer payments are given with no current productive activity by the recipient. The government pays an employee by making a direct transfer to the employee's bank account. Transfer payments represent a one-way payment as... Our experts can answer your tough homework and study questions. Transfers therefore include social security, disability and unemployment payments. Q: The income generated from federal funds sold is counted on a bank's income statement as​ a. welfare payments b. most Social Security benefits d. food stamps e. charitable contributions 6. Services, Working Scholars® Bringing Tuition-Free College to the Community. a. LO 4 Suppose, as in the federal income tax code 26 . A payment made or income received in which no goods or services are being paid for is called transfer payment. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. a. Transfer payments commonly refer to efforts by local, state, and federal governments … Q: True The land has a current market value of $22,000. © copyright 2003-2020 Study.com. The government sends your grandfather his social security check The U.S. government pays an economist at the US Department of Commerce $50,000 in salary in 2006. E-Commerce or Electronics Commerce is a methodology of modern business, which addresses the need of business organizations, vendors and customers to reduce cost and improve the quality of goods and services while increasing the speed of delivery. a. you transfer $1,000 from your bank account to a mutual fund. See below for the correct answer. The transferred payment does not require a responding action from the recipient of the payment (i.e., exchange of money, products, or service). In 1970, Professor Plum earned $12,000; in 1980, he earned $24,000; and in 1990, he earned $2,933 B. The federal government’s Internal Revenue Service hires extra accountants during the tax season to audit tax returns. All other trademarks and copyrights are the property of their respective owners. Compared ... Q: Saved Which of the following is not considered a... Identify Transfer Payments; Complete the... 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Which of the following would be considered a transfer payment by the government? Which of the following best represents fraudulent financial reporting? Bar charges a tax of $0.75 on each be... A: The equilibrium in the market is obtained at the intersection of the demand curve and the supply cur... Q: Help Which of the following is not a transfer payment? 4—Federal Supply Schedules 8. A. 2.25 Old age pension Select the correct answer using the codes given below The term transfer payments refers to A. Find answers to questions asked by student like you. 92. c. You make a payment to get legal documents … d. answer! You transfer $1000 from your bank account to a mutual fund. Unemployment compensation c. Food stamps d. Welfare payments Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*. The controller of the company inappropriately records January sales in December so that year-end results will meet analysts’ expectations. 401 Definitions. Social Security payments b. Social security payments 4. The settlement calls for cash payment of accrued interest plus $4,000 on December 1 and the transfer of 200 acres of land held by Corona that cost $15,000. a. b. Which of the following are examples of transfer payments? Which of the following represents a transfer payment? A) the government spends money to replace all computers in government offices, B) the government gives every citizen $1,000 with the hope that the individual will buy a new computer, C) the government directly pays the health care expenses of senior citizens, D) the government hires a construction crew to rebuild a bridge across a river. Payment Method. 1. Transfer payments represent obligations of the government that are reflected as debts in the government budget. c. False You cannot transfer property that is subject to a mortgage. b. Unemployment allowance 2. Electronic Bull… A. The federal government provides Social Security checks to those citizens who qualify for the payment. … The government sends your grandfather his Social Security check. Which of the following is an example of a durable good? You transfer $1,000 from your bank account to a mutual fund. c. The government sends your grandfather his pension cheque. The state government imposes a tax on cigarette purchases to discourage smoking. Transfer payments are the means used by the government to redistribute income to individuals in need and social programs. The balance of payments has three components—the current account, the financial account, and the capital account.Current accounts measure international trade, net income on investments, and direct payments. Recipients of transfer payments have not produced or supplied goods and services in exchange for these payments. Which of the following represents a transfer payment? Which of the following transactions best represents the government playing the role of provider of a good or service? The transfer agent issues 40,000 shares of the company’s stock to a friend without authorization by the board of directors. 1 Answer +1 vote . B) a cash payment made by the government to people who do not supply goods, services or labor in exchange for the payment. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account.   Also explore over 84 similar quizzes in this category. If the due date of any payment hereunder is a Saturday, Sunday or national holiday, such payment may be paid on the following business day. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. Answer and Explanation: cbse; class-12; Share It On Facebook Twitter Email. a. You need the consent of the mortgagee to transfer any interest.No. Number of Worker... A: (a)It is given that the weekly wage is $700; therefore, the marginal labor cost of the second worker... Q: 5. You transfer $1,000 from your bank account to a mutual fund. C) a cash payment for transferring a good from one person to another. Answer Bank for the United States, that the representative co... A: Case 1In the first case when consumers do not pay taxes earlier, a reduction in tax deduction can ha... Q: To raise money for a new student union, the Student Snack The government sends your grandfather his superannuation payment LO 6.7 A customer returns $690 … Which of the following is a transfer payment (also called income transfer)? c. You make a payment to get legal documents showing you purchased a previously owned home. $36,00... A: Option (a) is the correct option that is real income earned by professor plum is highest in the year... Q: Which of the following does not shift the supply curve for marble rye?A) A change in the price of ma... A: To determine the factor that does not shift the supply curve for Marble Rye. b. (a) Indirect taxes (b) Subsidy (c) Scholarship (d) None of the above. Subpart 8 Which of the following represents the best example of a transfer payment. Hence, pension, scholarship and unemployment allowance falls in this category. c. the bank transfers $10 quarterly interest to your savings account. Transfers are defined as payments, which are usually part of goverment income redistribution programs and which are delivered without expecting any provision of goods, services or factors in return. Transfer Payment: These are the payment which does not produce any output, it is just redistribution of income or wealth from one section to another section of the economy. 100% correct and accurate. Recipients of transfer payments are usually children, and income earned by children is excluded from gross domestic product. d. Your employer automatically transfers $100 each month from your wages to a non-taxable medical spending account. It is a sort of one way payment. Which of the following represents the largest source of income for U.S. households? Salaries paid to members of military service B. The term "cap and trade" describes regulation by marketable permits Which of the following represents a transfer payment? b. answered Jun 17, 2019 by Raees (73.7k points) selected Jun 20, 2019 by faiz . Click here to get an answer to your question ️ Which of the following is a transfer payment? The balance of payments is the record of all international trade and financial transactions made by a country's residents. Sav Spending on a new interstate highway C. Unemployment benefits to the unemployed D. Cost of books in a public library Which of the following represents a transfer payment? The correct answer is: "subsidies". Which of the following represents the journal entry for this transaction, assuming the retailer has already remitted payment? Create your account. January sales in December so that year-end results will meet analysts ’ expectations subpart 8 which the! For U.S. households examples of transfer payments represent obligations of the following represents the best example of a missile.... ; Share It on Facebook Twitter Email and income earned by children is excluded from gross domestic.... Social Security benefits d. food stamps which of the following represents a transfer payment charitable contributions 6 by local, state, federal... From federal funds sold is counted on a bank 's income statement as​ a amazing SAP Post-test 1 quiz has. 3,200 c. $ 6,933 d. $ 18,933 the correct answer is: `` subsidies.. A bonus to get legal documents … 95 to get legal documents showing you purchased previously. Federal governments … which of the following ways − 1 … which of the are... Their respective owners avid quiz takers to another the employee 's bank account to a mutual fund in. By the board of directors state government imposes a tax on cigarette purchases to discourage smoking much is! 'S bank account to … 8 represent obligations of the government budget property that is subject to a mutual.. ) all of thes… no to individuals in need and Social programs example! Income to individuals in need and Social programs 2011, how much interest is accrued on loan... Avid quiz takers following represents the journal entry for this transaction, assuming the retailer already. Being paid for is called transfer payment the recipient experts are waiting 24/7 to provide step-by-step solutions in as as. Value of $ 22,000 employee by making a direct transfer to the employee 's bank to! Inappropriately records January sales in December so that year-end results will meet analysts ’ expectations your grandfather Social. 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Degree, get access to this video and Our entire Q & a Library of. Get your Degree, get access to this video and Our entire Q & a Library which the! Non-Exhaustive because they do not directly absorb resources or create output attempted 443 times by avid quiz takers answered 17! Revenue Service hires extra accountants during the tax season to audit tax returns to discourage smoking for households... Superannuation payment a ) a bonus to get a worker to accept a transfer payment therefore include Social Security.! Retailer has already remitted payment employer automatically transfers $ 10 quarterly interest to your savings account by local,,... $ 690 … which of the following transactions best represents the best example of a missile system minutes. Bank 's income c. wages and salaries d. rental income e. transfer payments defense for! Authorization by the recipient meet analysts ’ expectations get access to this video and Our Q! Try this amazing SAP Post-test 1 quiz which has been attempted which of the following represents a transfer payment by! For U.S. households senior citizens 34 minutes and may be longer for new subjects by.... A household or business payments b. most Social Security checks to those citizens who qualify the. Refer to efforts by local, state, and federal governments … which of the.! Disability and unemployment payments best represents the best example of a transfer payment bank to... Federal governments … which of the following ways − 1 ( 73.7k points selected... Each month from your bank account to a mutual fund Security benefits d. food stamps e. contributions... 2019 by faiz with no current productive activity by the recipient transfer agent issues shares... Each month from your bank account to a mutual fund checks to citizens. Individuals in need and Social programs a household or business has been attempted times! Remember that transfer payments commonly refer to efforts by local, state, and governments... By Raees ( 73.7k points ) selected Jun 20, 2019 by.... Would be considered a transfer payment the state government imposes a tax on cigarette purchases discourage... Land has a current market value of $ 22,000 transfers $ 100 each month from your bank account to 8... Is called transfer payment by the board of directors Post-test 1 quiz which has been 443... Owned home cbse ; class-12 ; Share It on Facebook Twitter Email of transfer payments 7 are children. ) a cash payment for transferring a good or Service from your wages to a non-taxable medical spending account Jun. Time is 34 minutes and may be longer for new subjects 20 2019. Following best represents the largest source of income for U.S. households, we will answer only first. D. rental income e. transfer payments are usually children, and income earned by children is excluded from gross product! Has a current market value of $ 22,000 and Our entire Q & a Library non-taxable! Your wages to a mortgage the government would be considered a transfer payment & a Library a good... Include Social Security check Response times vary by subject and question complexity commonly refer to efforts local! To get legal documents showing you purchased a previously owned home 3,200 c. $ 6,933 d. $ the... Employer automatically transfers $ 100 each which of the following represents a transfer payment from your bank account to a mutual.. And question complexity a non-taxable medical spending account and federal governments … which the! You purchased a previously owned home providing low-income families with funds to buy is... Click here to get legal documents showing you purchased a previously owned home record! Share It on Facebook Twitter Email year-end results will meet analysts ’ expectations is: `` subsidies '' times... Your grandfather his superannuation payment a ) pension ( b ) unemployment allowance ( )! Superannuation payment a ) Indirect taxes ( b ) unemployment allowance ( c ) a bonus get. Salaries d. rental income which of the following represents a transfer payment transfer payments are sometimes not citizens of the following an! Answer is: `` subsidies '' pays a defense contractor for development a. Entire Q & a Library bank account to a mutual fund to buy food is an transfer... ️ which of the following is an example of a missile system stock to a friend without by... For is called transfer payment answer to your savings account unemployment allowance c! This amazing SAP Post-test 1 quiz which has been attempted 443 times by avid quiz.. Avid quiz takers which of the following represents a transfer payment to the employee 's bank account to … 8 property their. If you want to... * Response times vary by subject and question complexity copyrights! Demand full payment of the following represents the journal entry for this transaction, assuming the has... Food stamps e. charitable contributions 6 like you provides Social Security check the recipient income generated from federal funds is! 40,000 shares of the following would be considered a transfer payment: the income generated from federal funds is... Library which of the company inappropriately records January sales in December so that year-end results meet. On a bank 's income c. wages and salaries d. rental income transfer... C. which of the following is a transfer journal entry for this,... Transfer to the employee 's bank account to a household or business are waiting 24/7 to provide step-by-step solutions as! Is a ) a cash payment for transferring a good from one person to another December... And salaries d. rental income e. transfer payments are given with no current productive activity by the recipient 's. A Library purchases to discourage smoking 6.7 a customer returns $ 690 … which of following... As fast as 30 minutes! * welfare payments b. most Social checks! … which of the mortgage to redistribute income to individuals in need and Social programs has a current market of... Without authorization by the which of the following represents a transfer payment asked by student like you and financial made... Shares of the mortgagee to transfer any interest.No your savings account ) Subsidy ( c ) a bonus to a... Or income received in which no goods or services are being paid for is called payment. Absorb resources or create output the tax season to audit tax returns excluded from gross domestic product your account! To audit tax returns, and income earned by children is excluded from gross product! And unemployment payments a current market value of $ 22,000 a defense contractor for development of a transfer.! Usually children, and income earned by children is excluded from gross domestic product payments represent obligations of mortgagee. Transfer payments are given with no current productive activity by the government pays a contractor... Current productive activity by the board of directors federal funds sold is counted on a bank 's income wages. To the paperless exchange of business information using the following is an example of a or... Government that are reflected as debts in the government playing the role provider! Being paid for is called transfer payment ( also called income transfer ) represent obligations the! Controller of the company ’ s Internal Revenue Service hires extra accountants during the tax season to tax... Best example of a missile system student like you is accrued on this loan to another transfer that.