A Bank's Report of Condition Shows Gross Loans and Leases

question 63

Multiple Choice

A bank's Report of Condition shows gross loans and leases or $1,500 million.The loan loss allowance for the year is accumulated to $50 million and the bank reports an unearned income amounting to $2 million.The net loans and leases accounted by the banks would be:

• A)$1,550 million
• B)$1,450 million
• C)$1,448 million
• D)$1,452 million
• E)$1,548 million

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Definitions:

Deontology

An ethical theory that suggests actions are morally right because of their characteristics, not just their outcomes, emphasizing duties and rules.

Decision Making

The process of making choices or reaching conclusions, especially when preferences are considered among a range of potential options.

Traditional Corporation

A conventional business entity focused on profitability and growth, characterized by hierarchical organization and shareholder ownership.

Benefit Corporation

A type of for-profit corporate entity that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals.