GIFTS RECEIVED FROM ABROAD IS A TRANSFER PAYMENT/
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Answer:
yes
Explanation:
as gifts received from abroad is like income received without any good and services provided in return
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Yes, it’s true that a gift received from abroad is an example of transfer payment.
• A transfer payment is an expense of money for which there are no goods or services traded.
• There are different types of transfer payments. These can comprise individual contributions to charities or non-profit organizations or even a simple cash gift from one individual to another.
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