State Lotteries Are a Fairly Recent Phenomenon and Came About

question 37

True/False

State lotteries are a fairly recent phenomenon and came about as a response to the fiscal stress of the 1970s and 1980s.

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Definitions:

Planning Budget

An initial budget created using the assumptions of a particular level of activity to guide a company's financial decisions.

Net Operating Income

A financial metric that measures a company's profitability from its core business operations, excluding the effects of financing and taxes.

Selling

The process of promoting and transferring goods or services to customers in exchange for money.

Administrative Expense

Costs related to the general operation of a company, such as salaries of executive officers, legal and corporate office expenses.