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From the given options, select the word which correctly explains the expression:

To be a white elephant

(1) Very huge item

(2) Fair investment

(3) Expensive and useless possession

(4) Waste material

Solution

Correct Option: 3

The idiom a white elephant refers to a possession that is expensive to maintain but provides little or no practical value, hence useless. Therefore, the correct explanation is expensive and useless possession.

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