Select the option that can be used as a one-word substitute for the given group of words.
A fixed sum paid annually
Answer & explanation
Correct answer: option 3
The option that can be used as a one-word substitute for "a fixed sum paid annually" is annuity.
- Bonus is a payment made in addition to regular wages or salary, typically as a reward for good performance.
- Honorarium is a payment made in recognition of services rendered, typically to a professional person such as a doctor or lawyer.
- Alimony is a regular payment made by a husband or wife to the other spouse after a divorce, typically for the support of the spouse and any children.