An ad valorem duty is expressed as a percentage of the value of goods

All stress is associated with negative emotions or outcomes.

a. True b. False

The income statement presents a summary of an entity's revenues and expenses for a period of time. Which of the following statements is true of an income statement?

A) There is net income when total expenses are greater than total revenues. B) There is a net loss when total expenses are less than total revenue. C) There is a net loss when total expenses are greater than total liabilities. D) There is net income when total revenues are greater than total expenses.