A Bank Has Total Interest Income of $67 Million and Total

question 50

Multiple Choice

A bank has total interest income of $67 million and total noninterest income of $14 million.This bank has total interest expenses of $35 million and total noninterest expenses (excluding PLL) of $28 million.Its provision for loan losses is $6 million and its taxes are $5.What is this bank's net interest income?

• A)$7
• B)-$14
• C)$18
• D)$32
• E)None of the options are correct.

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Definitions:

Direct Materials Cost

The total expense incurred for the raw materials that are directly utilized in the making of a product.

Work in Process

Inventory category that includes goods that are in the production process but are not yet complete.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company.

Underapplied Overhead

Occurs when the allocated manufacturing overhead cost is less than the actual overhead incurred, leading to a shortfall in cost coverage.