Step 1 :The problem is asking for the number of ways to choose a president and a treasurer from a group of 5 people, where each person can only hold one position. This is a permutation problem, because the order in which the people are chosen matters (i.e., choosing person A as president and person B as treasurer is different from choosing person B as president and person A as treasurer).
Step 2 :The formula for permutations is \(P(n, r) = \frac{n!}{(n-r)!}\), where n is the total number of items, r is the number of items to choose, and '!' denotes factorial. In this case, n = 5 (the total number of people) and r = 2 (the number of positions to fill).
Step 3 :Substituting the values into the formula, we get \(P(5, 2) = \frac{5!}{(5-2)!} = 20\).
Step 4 :So, there are 20 different ways to choose a president and a treasurer from a group of 5 people, where each person can only hold one position. This matches with option A in the question, which lists 20 different pairs of people.
Step 5 :Final Answer: The correct list of possible pairs of presidents and treasurers is option A, and there are \(\boxed{20}\) ways to elect a president and a treasurer.