Which Statement Best Describes Annuities

question 4

Multiple Choice

Which statement best describes annuities?

• A)The cash flows for an ordinary (or deferred) annuity all occur at the beginning of the periods.
• B)If a series of unequal cash flows occurs at regular intervals, such as once a year, then the series is by definition an annuity.
• C)The cash flows for an annuity due must all occur at the ends of the periods.
• D)The cash flows for an annuity must all be equal, and they must occur at regular intervals, such as once a year or once a month.

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Definitions:

Expenditures

Refers to the total amount of money spent by households or businesses on goods and services.

Welfare State

A system where the government plays a key role in the protection and promotion of the economic and social well-being of its citizens.

Wealthy Countries

Nations with high levels of economic productivity, income per capita, and quality of life.

Welfare State

A system in which the government undertakes to protect the health and well-being of its citizens, especially those in financial or social need, by means of grants, pensions, and other benefits.