DEFERRED ANNUITY Definition

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DEFERRED ANNUITY is an annuity in which the income payments/withdrawals begin at some future date

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X-INEFFICIENCY is the failure to minimize costs or maximize returns. (Sometimes referred to as X-efficiency, but carrying the same meaning.)

ACQUISITION COST is the amount, net of both trade and cash discounts, paid for property, plus transportation costs and ancillary costs.

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