What is NOT a sociocultural influence that affects a consumer's behavior?

Ignoring the time value of money, how much does a firm lose on a $2,000 sale that has a 30% profit margin if the 20% probability of default occurs?

A) $1,400 B) $120 C) $280 D) $600

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.