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Which of the following is a true statement concerning federal transfer payments?
Present Value
Present Value (PV) is the current worth of a future sum of money or stream of cash flows given a specified rate of return.
Donation
A voluntary gift or contribution of money or goods to a charitable organization or cause.
Lump Sum Payment
A lump-sum payment made on a certain occasion, in contrast to sequential smaller payments.
Employment Contract
A formal agreement that specifies the terms of the relationship between an employer and an employee, including duties, duration, and compensation.
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