Where can I find the terminal in Lubuntu? I thought the CTRL+T option works as it does in Ubuntu too.
ALT-F2 and type lxterminal
But in Lubuntu one is not bound to use lxterminal which is somewhat limited (less settings) compared to Gnome Terminal and Xfce Terminal, and may install those in synaptic and use them instead.
To set shortcuts in Lubuntu edit the file /home/user/.config/openbox/lubuntu-rc.xml