What is a lump sum payment? Ans: A lump sum payment is often associated with a single amount paid to acquire a group of items

True.A lump sum is a single payment of money, as opposed to a series of payments made over time

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TRUE -- one time payment to acquire a group or one item is known as lump sum payment.

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There may be dispute on various counts in a payment. After mutual agreement, a mutually agreed figure may be agreed taking into account various factors. That single payment which will be a final discharge can be a lump sum payment.

In life insurance policy coverage for medical expenses for critical diseases, in case of incurrence of the covered critical disease, a one time payment is made immaterial of the actual expenses. That one time payment is called lump sum payment.

Single large payment made all at once, in lieu of several smaller payments made at regular or infrequent intervals.
A one-time payment for the total or partial value of an asset.
A lump-sum payment is usually taken in lieu of recurring payments that would otherwise be received over a period of time.
The value of a lump-sum payment is generally less than the sum of all payments that the party would otherwise receive, since the party paying the lump-sum payment is being asked to provide more funds up front than it otherwise would have been required to.

True : A one-time payment for the total or partial value of an asset. A lump-sum payment is usually taken in lieu of recurring payments that would otherwise be received over a period of time. The value of a lump-sum payment is generally less than the sum of all payments that the party would otherwise receive, since the party paying the lump-sum payment is being asked to provide more funds up front than it otherwise would have been required to.

 

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