State Lotteries Are

question 42

Multiple Choice

State lotteries are

• A)criticized as they are costly to administer and have low yields.
• B)seen as boons to state budgets as they have high yields.
• C)viewed as equitable sources of tax revenue.
• D)characterized as non-cyclical and stable revenue streams.

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Definitions:

Credit Sales

Sales for which payment is not received at the time of purchase, allowing customers to pay at a later date, thereby creating receivables for the seller.

Cash Sales

Transactions where payment is made in cash at the time of purchase, without the extension of credit.

Inventory

The goods and materials that a business holds for the ultimate purpose of resale or production.

Accounts Payable

Refers to the amounts due by a company to its creditors for goods or services received that have not yet been paid for.