![Which of the following is the actual definition of transfer payments?](https://www.gkseries.com/blog/wp-content/uploads/2022/09/Which-of-the-following-is-the-actual-definition-of-transfer-payments.png)
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