Why Does the Texas Lottery Remain an Important Part of State

question 47

Multiple Choice

Why does the Texas lottery remain an important part of state revenue, despite criticism from many segments of society?

• A) The Texas Constitution mandates gambling.
• B) Religious leaders ultimately support gambling.
• C) No one has found an agreeable way to replace the income it generates.
• D) Individual legislators receive kickbacks from lottery officials.

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Definitions:

Bondholders' Claims

Rights to repayment held by individuals or entities that have purchased bonds issued by a corporation or government.

Stockholders' Claims

The rights of shareholders to a corporation's assets after all debts have been paid.

Assets

Resources owned by a company or individual, expected to bring future economic benefits.

Face Amount

The face amount is the value of a financial instrument, such as a bond or life insurance policy, as stated on the instrument itself.