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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Definitions:

Services Classification

The categorization of services based on characteristics such as tangibility, the relationship with the customer, and the method of delivery.

Business Support Products

Goods and services that help businesses operate more efficiently and effectively, ranging from software tools to consulting services and office supplies.

Product Line

A series of related products offered by a company.

Product Mix

The total assortment of products that a company offers for sale, which can vary by depth, breadth, and consistency.