BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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in-cash transfer payment
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earned income
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employee benefits
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in-kind transfer payment
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Detailed explanation-1: -In-kind Transfers Examples Medicare and Medicaid are considered in-kind transfers or benefits because they directly provide a service to those who qualify rather than give them money to pay for health insurance. Another example of an in-kind transfer is the US’s SNAP program.
Detailed explanation-2: -A transfer payment is the provision of aid or money to an individual who is not required to provide anything in exchange for the payment. Social Security and welfare benefits are examples of transfer payments.
Detailed explanation-3: -Subsidies for education and training are also considered a type of government transfer payment.
Detailed explanation-4: -Examples of transfer payments include social security benefits, state pension, unemployment benefits, civil service benefits, survivor benefits, public health services, etc.