Identify the transfer payments in the following and answer from the codes below :
(a) Annual increment in salary
(b) Payment of bonus to employees
(c) Interest payment on public debt
(d) Pension payment
Codes :
(1) (c) and (d)
(2) (b), (c) and (d)
(3) (a) and (b)
(4) (a) and (c)
Answer: (1) (c) and (d)
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