LAG TIME Definition

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LAG TIME is the period of time between two closely related events, phenomena, etc., as between stimulus and response or between cause and effect: a time-lag between the declaration of war and full war production.

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REVENUE RESERVE is a fund that is not a CAPITAL RESERVE, i.e. the funds are distributable.

SALES TAX is a tax levied by a government entity, usually state or city, on the retail price of an item and certain taxable services, collected by the retailer.

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