As of December 31, 2010, the Assets Listed on the Balance

question 100

Multiple Choice

As of December 31, 2010, the assets listed on the balance sheet of Bank A were $1.5 million in cash reserves and $6 million in outstanding loans to its customers.Its liabilities totaled $6.5 million in checking deposits.What was the bank's net worth on that date?

• A)$1 million
• B)$4.5 million
• C)$5 million
• D)$14 million
• E)Zero

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